Spain’s Telefonica said it would separate parts of its Latin America business and regroup cybersecurity and cloud computing activities under a plan aimed at generating more than 2 billion euros ($2.20 billion) a year in extra revenues by 2022. Along with its peers, Europe’s fourth-largest telecoms company is struggling to achieve solid profit growth and has seen its share price touch its lowest level in more than two decades amid increasingly tough market conditions. “The model is tired out so we need to reinvent ourselves,” Alvarez-Pallete told a news conference on Wednesday called unexpectedly after a board meeting …read more
Source:: Yahoo Finance
