MADRID-Telefonica SA announced two new global businesses, further developing the business model it launched two years ago.
With the new businesses-Telefonica Moviles and Telefonica DataCorp-Telefonica hopes to capture the full value creation potential from each one by globalizing these high growth businesses.
Telefonica Moviles will group all of Telefonica’s mobile communications businesses to create the sixth-largest mobile group worldwide with close to 14 million customers. Luis Martin de Bustamante, currently chief executive officer of Telefonica de Espana, will become the executive chairman of Moviles.
The second business, Telefonica DataCorp, will group all data communications and integrated business solutions for major corporate customers in Spain, Latin America and Europe, becoming the second largest Data/IP company by revenue in the world. Antonio Viana-Baptista, CEO of Telefonica Internacional, will become chairman of the new company.
Telefonica also announced its board of directors, in hopes of accelerating the development and globalization of the two new businesses, has approved an all-stock public tender for all of the shares of Telesp, TeleSudeste Celular in Brazil, Telefonica de Argentina and Telefonica del Peru.
According to the company, the offering is an attempt by the board to extend the benefits of its global project to the shareholders of these Latin American companies by offering them the opportunity to participate in the future growth of its global businesses.
