The president of Telefónica, Marc Murtra, said Thursday that the company does not currently consider the possibility of acquiring Minsait, the Technological Division of Indra, nor the option of re -entered the shareholding of the Hurd Media Media Group.
The Teleco has announced a strategic review of its businesses, which will be announced in the second semester of the year, but has stressed that the measures adopted within the framework of that new roadmap will leave the decisions taken in its board of directors.
In that sense, Indra seeks a strategic partner for Minsait and had been speculated with the interest of Telefónica Tech in a possible total or partial purchase of the technological division of the company now chaired by Ángel Escribano.
In fact, in the presentation of the results of Indra that took place this Wednesday, its president Ángel Escribano said that his company had not been contacted by Telefónica in relation to this matter.
On the other hand, Telefónica sold the last titles she had in a hurry in 2023 and, according to Murtra, at the moment the possibility that the Teleco returns to the shareholder of the media group is not being studied, in which she was for more than a decade.
Murtra has also pointed out that Telefónica does not consider entering the defense or aerospace sector and has stressed that this type of business is not part of its activity core, which is what will focus on the strategic review of the company.
“Strategic review”
“The changes in the environment lead us to a strategic review,” said Murtra in a press conference in the framework of the presentation of the company corresponding to 2024.
On this, he has deepened that the strategic review will be based on the “industrial logic” and will maintain the focus on the key business of the Teleco with the aim of acquiring “productive scales” that reinforces his operation and helps him create value for his shareholders and “interest groups”.
“We are seeing a geostrategic change and we see the need to accelerate strategic autonomy. The Telco sector is necessary to obtain technological sovereignty in Europe, ”added Murtra.
In that line, and given the fragmentation of the telecommunications sector in Europe, with three or four companies competing in each country (compared to the small number of large operators in China or the United States), the president of Telefónica has highlighted the need for a “regulatory adjustment” to create companies “with the necessary scale” to undertake the necessary investments in the coming years.
Murtra has also noticed that “drastic changes” are expected in the European telecommunications sector and that Telefónica has a “clear opportunity” to “lead” and promote this consolidation process. When asked about this, Telefónica’s ‘first sword’ has stressed that all the markets of the old continent are being analyzed, not just Spanish.
Reduction to exposure in Latin America
In this context, it should be remembered that Telefónica is in a process of reducing its exposure to the markets of Latin America and, in fact, this week announced the sale of its subsidiary in Argentina to Telecom Argentina for 1,245 million dollars (around 1.2 billion euros).
Although the president of Argentina, Javier Milei, reacted almost immediately to the announcement of the operation and pointed out that it will be studied if that transaction can be a risk of monopoly, the general director of Finance and Control of Telefónica and responsible for Latin America, Laura Abasolo, has clarified that the operation is already closed and that both the asset and the possible regulatory irrigation are no longer issues that affect Telefónica.
In addition, Telefónica recently requested the creditors contest for its subsidiary in Peru and is speculated with the possibility that it also has in mind to give off its businesses in Mexico, Colombia or Uruguay, although Murtra has not confirmed such extremes.
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