Spanish incumbent Telefonica plans to strengthen the operations it owns rather than make further acquisitions, reported the Wall Street Journal citing chairman and CEO Cesar Alierta.
In July, the Spanish giant confirmed a E7.5bn deal to take full control…
Spanish incumbent Telefonica plans to strengthen the operations it owns rather than make further acquisitions, reported the Wall Street Journal citing chairman and CEO Cesar Alierta.
In July, the Spanish giant confirmed a E7.5bn deal to take full control Brazilian mobile operator Vivo in a move some investors saw as indicative of an aggressive acquisition strategy.
However, Alierta said his company now has achieved the footprint it has been seeking. As such, Telefonica intends to concentrate on organic-led growth, increasing revenue through the soaring demand for network capacity.
Alierta is credited for transforming Telefonica from a lesser known state-owned operator when he took the reins in 2000 into a high-profile global heavyweight.
Telefonica did not return requests for comment.