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Telefonica says not yet at turning point in Spain

Source: Reuters - Thu 14th May 2015
Telefonica says not yet at turning point in Spain

Spain's Telefonica on Thursday said it was not yet at a turning point in its home market, acknowledging a return to domestic revenue growth would need more efforts and may have to wait another few quarters.

"The key issue in Spain it turning back to revenue growth as soon as possible... We're focusing on stabilizing revenue growth as soon as possible," said Chief Operating Officer Jose Maria Alvarez-Pallete during a conference call with analysts.

"We have the ambition to turn back to revenue growth in Spain this year... We need to generate slightly above 3 billion euros per quarter to turn back to revenue growth. We're not there yet... so we need to improve," he added.

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