Murtra (Telefónica): "We want to invest in defense"

MadridTelefónica also wants to benefit from the buoyant moment in the defense sector. The company not only plans to invest in this activity, at least in the area linked to its business (information and communications technologies), but also wants to align itself with the Spanish government's defense plan and gain a foothold. "Will we invest in defense? Yes, we want to invest in defense, but always subordinate to the defense policy set by the Ministry [of Defense]," stated Telefónica's chairman, Marc Murtra, during his appearance in the Congress of Deputies on Thursday.

It's worth remembering that Pedro Sánchez's government's €10.471 billion plan to reach 2% of GDP in defense provides for allocating 31% of the investment to new telecommunications technologies and cybersecurity, two aspects closely linked to Telefónica's business.

Murtra has appeared at his own request in the Spanish lower house to explain, precisely, the strategy of the telecommunications in terms of security and defense. His appearance also comes after the State acquired 10% of the company's share capital twenty-seven years after its privatization. The executive also announced that Telefónica "is at the service" of Indra, the technology and defense company that the Spanish government, with a 28% stake, wants to become the "champion" of the sector in Spain. "We want to contribute capabilities that other operators don't have," insisted Murtra, who is in charge of leading Indra. before joining Telefónica in January.

During the presentation of the annual results, the senior executive already anticipated a change in the company's direction, which will entail a review of the current strategic plan, presented in November 2023 with a horizon until 2026. "There is continuity, coherence, and respect for what has been done, which is very good," he said. The company's intention is to present new lines of action in the second half of the year.

The deputies took the opportunity to ask Murtra about Telefónica's current investment in defense. "It's little or too little," the president of the telecommunications. Regarding possible red lines, he said that he places them in the current "legislation and regulation" "[Investment in defense] will be one of the lines of work that we will prioritize, and we will bet on helping the defense policies of Spain and its allies [...]", he insisted on the fact of "the fact" of the telecommunications sector, the telecommunications He hopes to do so by focusing on concentration. "It's important that there be a strategy [in defense] and that those of us who carry out this strategy help," he concluded.