Venezuela has been Telefónica's last stronghold in Latin America since Wednesday. It is the only country where the "telecom" telecom maintains its business after reaching an agreement to divest its subsidiary in Mexico for approximately 389 million euros. Specifically, Telefónica has reached an agreement with the consortium Melisa Acquisition, made up of Oxio and Newfoundland Capital Management, for the sale of its stake in the Mexican subsidiary, as the company has communicated to the National Securities Market Commission (CNMV).

The sale of almost all subsidiaries in Latin America and the workforce reduction plan (ERE) that could result in the departure of more than 5,000 workers (the final impact is still being negotiated) have translated into a drag on Telefónica's 2025 results. Between January and December of last year, telecom The company, chaired by Marc Murtra, lost €4.318 billion due to the extraordinary impact of both factors, as reported Tuesday by the company to the Spanish National Securities Market Commission (CNMV). These are the largest losses in the last twenty years, but the company sees it as an essential step – albeit undoubtedly difficult to accept – to meet its new roadmap. The stock remained fairly stable throughout the day with slight declines.

Telefónica makes its first major acquisition to grow in Europe telecom The Spanish company chaired by Marc Murtra has reached an agreement with Liberty Global, co-owner of the British telecommunications company VMO2, and InfraVia Capital, to acquire 100% of the share capital of the British firm Netomnia for 2.294 billion euros, as reported Wednesday afternoon by MV. The deal began to circulate a few days ago, when the Financial Times He announced that Telefónica, together with the other two companies, was negotiating the acquisition of what is the second largest fiber optic operator in the United Kingdom.

Telefónica is leaving Chile, the first country where it kicked off its international expansion in 1989. telecom Telefónica Móviles Chile, chaired by Marc Murtra, has sold its Chilean subsidiary, Telefónica Móviles Chile, to NJJ Holding and Millicom Spain for €1.03 billion. According to a statement released by the company to the Spanish National Securities Market Commission (CNMV), the transaction includes a variable payment of approximately €126 million contingent on "certain events" in the Chilean telecommunications market. The total amount includes a cash payment of €42 million and a further €286 million linked to the Chilean subsidiary's financial performance. This sale marks the continuation of the Spanish company's exit from Latin America, as outlined in its strategic plan. Telefónica has already sold its subsidiaries in Argentina, Peru, Ecuador, and Uruguay, which impacted the company's November results due to the losses recorded from these transactions. Colombia has joined the four countries already mentioned, where the sale of the subsidiary for approximately €182 million (based on the current exchange rate) has just been finalized. In addition to Chile, Mexico and Venezuela are expected to be added to the list. "We will expand beyond Spanish-speaking America," Murtra confirmed. during the presentation of the strategic plan in NovemberThe withdrawal from territories like Chile, the first country where Telefónica established a presence, would mark the end of an expansion that began in 1989. In parallel with these divestments, the company is making moves to strengthen its position in Europe through sector consolidation.telecomis finalizing the purchase of Netomnia, the UK's fourth-largest broadband network operator, for around £2 billion (€2.3 billion), according to reports.Financial TimesHowever, this consolidation strategy remains surrounded by major unknowns, especially considering the role regulators play in operations like this.

A dark week in the markets (for some). Gold, silver, bitcoin, technology companies... It seemed like no one was safe. Silver fell 30% in a single day, and Bitcoin plummeted 50% in three months. Everything was in the red. It felt like the end of the world. And a phrase that made me laugh: "I used to lose 5% a year to inflation, and now I'm losing 20% ​​a month investing."

With Marc Murtra's arrival as president of Telefónica, the company set itself the goal of growing through the consolidation of the telecommunications sector in Europe in order to compete with the Chinese and American markets, where there are far fewer operators. And now, after presenting a strategic plan for the next five years in which he has put his intentions in black and white –albeit in broad strokes–, He's already making moves to advance in this long-distance race: the telecom It is finalizing the purchase of Netomnia, the UK's fourth-largest broadband network operator, for around £2 billion (€2.3 billion), according to reports. Financial Times

La Caixa, Spain's largest economic, financial, business, and philanthropic network, has secured its future, at least until 2030. In a move to preserve the independence of the Foundation, the group's parent organization, Isidre Fainé (Manresa, 1942) will remain as chairman for a significant portion of the current administration, whose term ends this week. This continuity and stability, characteristic of the organization, ensures coverage of the strategic plan, which anticipates investing €4 billion by 2030. La Caixa is one of Spain's largest financial institutions, with a market capitalization exceeding €37 billion. Last November, after dismissing CEO Ángel Simón in March, Fainé promoted changes to Criteria's roadmap through 2030 to better align it with the Foundation's interests and objectives. This powerful organization, with its financial, business, and social influence, has been headed by Fainé since 2014, when it ceased to be a savings bank, of which he was also president since 2007. Some sources claim that a key principle is that "Criteria works for the Foundation, not for it."

The Minister for Digital Transformation and Public Administration, Óscar López, announced this Wednesday that the government will include Madrid in a joint bid with Catalonia for the European Gigafactory for Artificial Intelligence (AI), a project that could mobilize an investment of around 4 billion euros and that It must be carried out in Móra la Nova (Ebro River Basin). Sources from the Catalan government, which initially promoted the project, confirmed that the Catalan administration is working to expand the project to the Community of Madrid.

Marc Murtra's arrival at Telefónica almost a year ago It caused quite a stir, and not only because it was officially announced on a Saturday morning after the news leaked to the media. It also meant the departure of José María Álvarez-Pallete, who had been at the helm of the company since 2016. This change was driven by the Spanish government – which holds 10% of the share capital through SEPI – and it didn't raise any eyebrows at CriteriaCaixa, the other major shareholder. telecom with 10% of the share capital.

The last executive recruitment window of the year brings changes to CaixaBank, which this week unveiled a revamped management committee, most notably the appointment of Jordi Mondéjar as the bank's new business director. Meanwhile, pharmaceutical company Hipra will have two new members on its board of directors, and Marc Murtra continues to restructure Telefónica's top management. These are the week's most prominent appointments:

Forty years later, Telefónica is preparing to say goodbye to the New York Stock Exchange. The company, chaired by Marc Murtra, has begun the process of delisting from Wall Street, as reported Wednesday afternoon by the Spanish National Securities Market Commission (CNMV). This move marks a historic turning point, considering that Telefónica was the first Spanish company to list in the United States, where it debuted in June 1987. The decision comes at a time when the company is undergoing a change of direction that, among other things, involves its definitive exit from Latin America. telecom It is divesting itself of almost all its subsidiaries across the Atlantic—; exploring new businesses and simplifying operations, as well as reducing costs. In this context, it is necessary to frame a workforce reduction plan (ERE) that will affect, at a minimum, more than 4,550 employees of the company and that the company and unions are finalizing negotiations.

Telefónica has reduced the total number of workers affected by the workforce reduction plan (ERE) to 4,554. This is the final proposal the company has put on the table, according to union estimates, and could lead to an agreement before the Christmas holidays, union sources indicate. In fact, the three largest unions at the company (CCOO, UGT, and Sumados-Fetico) are expected to decide in the coming hours and days whether or not to accept the proposal and its conditions. The same sources indicate that, if successful, an agreement could be reached as early as Monday of next week. Initially, the minimum job cuts across the company's three main businesses in Spain have been set at 3,765 workers. This workforce reduction would affect Telefónica España, Telefónica Móviles, and Telefónica Soluciones. As for Movistar+, the company has reduced the number of affected employees to at least 190, although this figure could still change. In the other businesses, the workforce reduction plan (ERE) has been reduced by 20%: at Global Solutions, 112 people would be laid off from a staff of 638; at Telefónica Innovación Digital, 186 out of a total of 933; and at Telefónica SA, the impact would be on 301 workers, as reported by the unions. In total, the ERE would affect 4,554 workers, 25% fewer employees than the initial proposal.

Interestingly, this week the telecoms sector has been looking to politics. On the one hand, Telefónica has appointed former PNV president Andoni Ortuzar to its board of directors. A controversial appointment, given that it comes amidst negotiations for a workforce reduction plan. On the other hand, Sateliot approached the socialist Meritxell Batet, president of the Congress of Deputies between 2019 and 2023, formerly Minister of Public Administration (2018-2019), and currently president of the National Council of the PSC (Socialist Party of Catalonia). In addition, the Eurogroup has a new president, and Oriol Oró is stepping down as director of Fira de Lleida after 18 years. These are the most notable appointments of the week:

Telefónica's workforce reduction plan (ERE) will affect at least 647 of the company's employees in Catalonia, according to data obtained by ARA. These are the employees who, meeting the age criteria of the plan, work in the company's three main business units. telecom Telefónica España, Telefónica Móviles, and Telefónica Soluciones are where the bulk of the proposed workforce reduction plan (ERE) is concentrated. In Catalonia, 1,355 people work in these three areas or businesses, meaning the ERE would affect 47% of the total workforce. According to data obtained by ARA, within Telefónica España, 570 employees would fit the age profile of the proposed ERE; in Telefónica Móviles, 73; and in Telefónica Soluciones, 4. Furthermore, a portion of the workforce would be excluded from the plan from the outset: those employees who, despite meeting the age profile, would not be eligible for the ERE because their work is not considered "surplus" by the company, according to reports.

At the end of 2023, the Spanish government decided to reacquire a stake in Telefónica after its privatization in 1997. The operation was completed in 2024, and today SEPI, the Spanish government's investment arm, is the largest shareholder, holding 10% of the share capital, which involved an investment of over €2 million. Now, the public stake faces its first major test: a workforce reduction plan (ERE) affecting 6,088 employees across Telefónica's seven business units, as reported by the UGT union. This represents 24.3% of the total workforce. Until now, only the Minister for Digital Transformation and Public Administration, Óscar López (PSOE), had commented, stating only that the final decision regarding the plan must be made "in agreement with the unions." But this Tuesday, the second vice president and Minister of Labor, Yolanda Díaz (Sumar), completely overturned the decision of the telecom The Catalan Marc Murtra, who is chaired by Díaz, stated: "I don't think it's right [...]. Public money shouldn't be used to lay off anyone, no matter how good the terms of the workforce reduction plan are," Díaz rebuked at a press conference following the cabinet meeting. "We absolutely do not agree that a company that is profitable and has public funding should lay off more than 5,000 workers," the Minister of Labor reiterated.

Telefónica and Cellnex have challenged the tender for the deployment of the public fiber optic network that the Generalitat awarded to the temporary joint venture (UTE) Sirt-Connecta, which will use Chinese Huawei technology, as has been reported. The Country And ARA has been able to confirm this. At the end of October, the Catalan government awarded these companies the contract to connect all its public services and facilities via fiber optics. The contract, worth 127 million euros, excluded companies such as Telefónica, MasOrange, and Vodafone and raised concerns because it involved the introduction of Chinese technology into a strategic project—one that connects critical public services such as the Mossos d'Esquadra (Catalan police), the education system, and emergency services—at a time when the European Union has recommended against it. At the time, Salvador Illa's government clarified that it was a framework agreement for services, and "not an equipment purchase." Sirt-Connecta obtained a higher score, so they won the bid. The contract includes the execution of the civil works, the provision of equipment as a service, and the tasks necessary to establish and manage the connectivity. The appeal filed by Telefónica and Cellnex, which planned to use European Nokia technology, has been submitted jointly to the Public Contracts Tribunal of Catalonia and could lead to the project being halted until a decision is reached. Government sources confirm they have received the appeal filed by Telefónica and Cellnex. "This is a possibility contemplated within the framework of the standard and rigorous administrative process for a public tender such as this. Now, the procedure will continue following the processes and mechanisms established by law," these sources indicate. Huawei, in the EU's crosshairs

The European Commission has long been waging an offensive against the Chinese multinational, following the lead of the United States, which has resulted in the company facing severe restrictions. The Commission considers Huawei to pose a sufficiently high risk to the security of the European Union to justify excluding it from the deployment of 5G networks in member states, a recommendation that some countries, such as Lithuania, have adopted. However, the warning does not constitute a ban on the company.In this regard, the Catalan government indicated that the contract under scrutiny concerns fiber optics, not 5G. One of the main reasons behind the US and Brussels' crusade against the tech giant is the never-proven assumption that Huawei leaks information to the Chinese government or even facilitates espionage. Since 2017, China has required its companies to provide intelligence services with all requested information. In any case, Huawei has managed to secure contracts worldwide because it offers lower prices and high technical quality. In this way, it has gained ground while other companies, including European ones (Ericsson and Nokia), have lost ground. Now that Europe is seeking to safeguard its strategic autonomy, especially in telecommunications and security, Brussels sees this as a problem. The Generalitat's project aims to leverage and strengthen its publicly owned fiber optic network (which will exceed 8,000 km by 2025). It will connect 5,419 Generalitat public service offices to this robust, high-quality network, under public governance. Combined with the offices already connected, this will bring the total number of Generalitat public offices connected to the network to 6,164, resulting in significant cost savings.

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Telefónica has just informed the unions of the initial figures for the workforce reduction plan (ERE) it intends to implement. Initially, the ERE would affect 5,319 workers in Spain across four of the company's main business units (Telefónica España, Telefónica Móviles, Telefónica Soluciones, and Movistar+), according to union sources this Monday at midday, following a meeting with the company chaired by Marc Murtra. This represents 21% of Telefónica's total workforce in Spain (approximately 25,000 employees across all seven business units). To these affected workers must be added the employees of three other businesses (Global Solutions, Telefónica Innovación Digital, and Telefónica SA), although the impact there would be less, union sources told ARA. Therefore, the final number of affected workers would be around 6,000 employees across all seven businesses, according to the same sources. Unions and the company are scheduled to meet again tomorrow, Tuesday, to address this second part of the proceedings. Telefónica officially announced its intention to implement the workforce reduction plan last week. telecom The company justifies the decision on the grounds of "organizational, technical, and production reasons," according to UGT, one of the largest unions within the company. Of the total number of workers currently affected, 3,649 are from Telefónica España (41.04% of the total workforce), 1,124 from Telefónica Móviles (31.34% of the total), 267 from Telefónica Soluciones (23.89% of a workforce of 1,118 employees), and 27. One of the unions' red lines is that the workforce reduction plan (ERE) be voluntary, based on early retirements, and consistent with the ERE already agreed upon in 2024. The unions also want job security guarantees for the remaining staff, so they will open negotiations parallel to those for De3. For UGT, this is one of the conditions for accepting the proposed workforce reduction plan. "It will be impossible to reach a comprehensive agreement if there is no satisfactory progress in the negotiations to extend the current collective bargaining agreement," warns UGT. "It is essential that the economic and social conditions [for those affected by the workforce reduction] be guaranteed," asserts CCOO, the other major union within the company.

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The rollout of 5G has become one of the driving forces behind Catalonia's digital transformation. This technology has not only boosted the development of major cities but has also contributed to improving connectivity in rural areas and less densely populated regions. Telefónica has played a leading role in this process: it is currently the operator with the most extensive 5G coverage in the country, reaching almost the entire Catalan population and a total of 701 municipalities across the four provinces.

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Telefónica has officially announced its intention to implement a workforce reduction plan (ERE). In a meeting with the main unions held this Monday morning, the company, chaired by Marc Murtra, announced that the ERE will affect seven of Telefónica's businesses, most notably Telefónica España, Telefónica Móviles, and Telefónica Soluciones. These three businesses are joined by Global Solutions, Telefónica Innovación Digital, and Movistar+. UGT, one of the main unions, explained that the company justified the decision on "objective grounds," according to a press release. "We will negotiate in good faith, through dialogue and consensus, but with firmness," UGT stated. The CCOO union also issued a statement. The union will fight to guarantee the "voluntary and universal nature" of the workforce reduction plan (ERE), "adequate" economic and social conditions, and that it be "linked to retirement" and not have "economic disadvantages" for the staff. The unions criticized management for using this as a way to implement "organizational adjustments" within the company.

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Telefónica will announce next week what workforce reduction plan (ERE) it is considering for its staff. telecom Telefónica has summoned the three main unions at the company (UGT, CCOO, and Sumados) for a meeting next Monday to explain how it will implement the new strategic plan and what impact the proposed cost reductions will have on employees. Therefore, the possibility of implementing a collective dismissal procedure (ERE) exists, according to union sources who spoke to ARA.

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