Telefónica folds in Latin America. The telecommunications multinational's business, from now on, will be concentrated in four markets: three Europeans - Spain, Germany and the United Kingdom despite Brexit - and Brazil , the only territory that invites optimism across the Atlantic.
"Our operations in Latin America were until a few years ago the engine of growth of the company. However, the particular conditions in these markets have impacted on the evolution of our businesses, reducing their contribution in recent years for different reasons (macro environment and regulatory, increased competitive pressure, insufficient scale or the volatility of currencies), "said José María Álvarez-Pallete, president of the company.
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