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Telefónica sets out five-point transformation plan, poised to exit LATAM

Telefónica has announced a major restructuring, which appears to set the stage to withdraw from the Latin American markets that were supposed to deliver growth and so mitigate the effects of slowdown and saturation in Europe. The debt-laden Spanish telecoms group has set out a five-point plan that is more geographically selective than its current structure, but places new levels of emphasis on generating growth from enterprise-focused services, while joining the popular European trend to offload and monetize infrastructure assets such as cell towers. Chairman and CEO José María Álvarez-Pallete announced the plan, saying it would stimulate growth, improve efficiency and “design a company for the next 100 years”. Geographically, Telefónica plans to focus mainly on its three remaining European…

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