Telefonica names new Latin America team, looks to 'maximise value' of Hispam unit

Nieuws Algemeen Latijns-Amerika en het Caribisch gebied 18 DEC 2019
Telefonica names new Latin America team, looks to 'maximise value' of Hispam unit
Telefonica has approved the organisational structure of the new Hispam unit created to hold its Latin American business (apart from Brazil). The unit will be headed by Alfonso Gomez, currently responsible for Hispam Norte, who as CEO will report to the company’s Director of Finance and Control Laura Abasolo, who has been named Telefonica Hispam president. Telefonica said the aim is to give the unit’s management greater agility and autonomy and to give greater independence to local operations, in order to focus on maximising the growth and value of the region.

Additional key appointments include Elisa Caballero as Chief Consumer Officer, Juan Vicente Martin Fontelles as Chief Business Officer, Andrea Folgueiras as Chief Technology and Information Officer and Elena Maestre as the Hispam unit’s Chief Financial and Strategy Officer.

The creation of the unit is part of the wide-ranging action plan announced by Telefonica last month, with the company pledging to spin-off and review its Latin American units, with the exception of Brazil, with a view to “modulating the exposure to the region, while creating the conditions to maximise its value... via growth, consolidation and potential corporate operations." 

It said the Latin American operations will be managed as an autonomous unit, with a specific and dedicated regional team who will be focusing on attracting investors and boosting potential synergies with other market players.

Categories:

Algemeen

Companies:

Telefonica

Regions:

Latijns-Amerika en het Caribisch gebied

Tags:

Wholesale, Corporate strategy, Officers & directors

Related Articles

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 11 DEC 2024

Folgueiras and Azcue named Telefonica technology and strategy chiefs

Telefonica said its board approved the appointment of Andrea Folgueiras and Juan Azcue as new members of its Executive Committee after being named Global Chief Technology and Information Officer (GCTIO) and Chief Strategy and Development Officer, respectively. Folgueiras will replace Enrique Blanco when he ends his 40-year professional career at the group on 31 March 2025, while Azcue will take over from Mark Evans, a former CEO of O2 UK, who will be leaving in January.

URUGUAY 13 MAY 2021

Argentina's Gruppo Olmos in talks to acquire Movistar Uruguay

Argentinian holding company Grupo Olmos, owner of the pay-TV channel Cronica TV, is in talks to acquire of Telefonica's Uruguayan subsidiary and has hired former Telefonica Spain president Luis Miguel Gilperez to lead the negotiations, reports local daily Clarin. The move was confirmed by the holding company's president Raul Olmos, who said Swiss investment bank UBS has been hired to structure the financial terms of the transaction, which forms part of the international expansion plans of Grupo Olmos.

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 25 FEB 2021

Telefonica Q4 revenues down 3% in Latin America, grows postpay

Telefonica said its operations in Latin America posted a 2.5 percent organic decline in total revenues to EUR 1.93 billion in the final quarter of 2020, attributed to COVID-19 impact and a challenging competitive environment across the region. However, the company said its Telefonica Hispam unit (comprising all of Telefonica's Latin American subsidiaries, with the exception of Brazil) continued maximising efficiencies and increasing profitability, posting a 2.4 percent increase in operating cash flow (OIBDA

EUROPA 25 FEB 2021

Telefonica meets target for nearly stable FY cash flow, sees lower div in 2021 as capex resumes

Telefonica has met its target for only a small drop in operating cash flow in 2020. Despite a sharp fall in revenues due to the Covid-19 pandemic, operating cash flow (OIBDA - capex) was down just 0.9 percent to EUR 7.76 billion, and the company still managed to reduce debt by EUR 2.5 billion during the year. Telefonica maintained its dividend at EUR 0.40 per share, but said the figure would drop to EUR 0.30 in 2021 as it returns to a more normal level of capital expenditure at 15 percent of revenue. 

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 30 JUL 2020

Telefonica Q2 sales plunge 11% in Latin America on heavy Covid-19 and forex impact

Telefonica said its operations in Latin America were heavily impacted by the Covid-19 pandemic and weak local currencies in the second quarter of 2020, with revenues plunging 10.8 percent on an organic basis and 28.0 percent on a reported basis to EUR 1.89 billion, compared to EUR 2.61 billion a year earlier. The newly-combined Telefonica Hispam unit comprises all of Telefonica's Latin American subsidiaries, with the exception of Brazil, and is being spun off as part of a wide-ranging restructuring plan ann

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 7 MAY 2020

Telefonica revenues down 5% in Latin America, Mexico returns to OIBDA growth

Telefonica said its operations in Latin America posted a 4.8 percent organic decline in total revenues to EUR 2.20 billion in the first quarter of 2020, attributed to lower handset sales (-14.7%) due to early Covid-19 impact and lower service revenues in mobile. The newly-combined Telefonica Hispam unit comprises all of Telefonica's Latin American subsidiaries, with the exception of Brazil, and is being spun off as part of a wide-ranging restructuring plan announced in November.

COSTA RICA 4 MAY 2020

Millicom withdraws from USD 570 mln acquisition of Telefonica Costa Rica

Millicom confirmed it has pulled out of a USD 570 million agreement to acquire Telefonica's mobile telecommunications assets in Costa Rica, paving the way for possible legal action from the Spanish operator. In a brief statement, Millicom said it exercised its right to terminate the Share Purchase Agreement (SPA) on the grounds that Telefonica had failed to secure "required regulatory approvals that were agreed by the parties and set forth in the SPA, certain of which have not yet been issued," without prov

PERU 2 APR 2020

Telefonica offers to buy out Peru minority shareholders

Latin American Cellular Holdings, Telefonica's local holding company, has made a new offer to buy class B shares from minority shareholders in Telefonica del Peru, reports Cinco Dias. The offer of PEN 2.08 per share for 36 million class B shares (around 1.5 percent of the unit) is worth around PEN 74.9 billion and expires on 23 April. Telefonica previously acquired 11.45 million shares in a first offer that closed on 31 March.

CHILI 26 MAR 2020

Telefonica eyeing partial sale of Chile fibre unit - report

Telefonica has hired Banco Santander to find a buyer for a stake in its Chilean fibre-optic subsidiary Infraco, according to unnamed sources cited by El Confidencial. The Spanish group set up Infraco earlier this year and is now looking to sell off 50 percent of its share capital for around EUR 250 million, said the report, adding that the deal would allow it to retain control of the unit while boosting the company's fibre deployment plans in Chile.

SPANJE 19 MAR 2020

Spanish govt shields Telefonica from hostile takeover bids

The Spanish government has taken steps to protect listed companies including Telefonica from hostile takeover bids as share prices plummet due to the impact of the coronavirus crisis. According to the provisions of the government's emergency Royal Decree-Law 8/2020, investors residing outside the EU and the European Free Trade Association will be temporarily barred from holding "a stake equal to or greater than 10 percent" in listed companies and will not be permitted to take control of companies related to

DUITSLAND 4 FEB 2020

Telefonica Deutschland chairwoman to step down in March

Telefonica Deutschland said that its chairwoman Laura Abasolo Garcia de Baquedano will step down for personal reasons, effective 31 March. The company said the supervisory board will start work immediately on finding a successor. 

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 31 JAN 2020

Telefonica hires Citi to assist sale of Hispam unit - report

An assessment by Goldman Sachs valued the unit at EUR 13.5 billion, equivalent to around 14 percent of Telefonica's assets, with a report in El Confidencial citing Luxembourg-based Millicom and US multinational Liberty Global as possible buyers of a majority stake in Telefonica Hispam.

SPANJE 31 JAN 2020

Telefonica creates new global digital consumer unit

Telefonica has announced the creation of a new global unit designed to make sales processes and customer relations "more digital, faster and simpler" as part of the action plan launched in November to generate more than EUR 2 billion a year in additional revenues from 2022 onwards. The new unit, dubbed Chief Digital Consumer Office (CDCO), will be led by Chema Alonso, until now responsible for the company's data strategy and cognitive intelligence project. Telefonica said the unit will above all promote inn

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 21 JAN 2020

LatAm business grouping eyeing takeover of Telefonica Hispam unit - report

A group of Latin American entrepreneurs is interested in acquiring a 51 percent stake in the majority of Telefonica's assets in the region for at least EUR 10 billion, according to unnamed sources cited by Spanish daily El Mundo. The operator last year pledged to spin-off its Latin American units, with the exception of Brazil, into an autonomous unit called Telefonica Hispam with a dedicated regional team focused on attracting investors and boosting potential synergies with other market players.

LATIJNS-AMERIKA EN HET CARIBISCH GEBIED 13 JAN 2020

Telefonica picks Morgan Stanley to head review of LatAm activities - report

Telefonica has selected US investment bank Morgan Stanley to carry out an analysis of its operations in Latin America, reports business daily Expansion, citing an earlier exclusive from Bloomberg. The review is part of the wide-ranging action plan announced by Telefonica in November, with the company pledging to spin-off its Latin American units, with the exception of Brazil, with a view to "modulating the exposure to the region, while creating the conditions to maximise its value... via growth, consolidati

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.