Telefónica S.A. (NYSE: TEF (http://www.nyse.com/about/listed/lcddata.html?ticker=TEF)) (TYO: 9481 (http://quote.tse.or.jp/tse/qsearch.exe?F=listing%2FEcslist&KEY1=9481&image.x=20&image.y=5)) is the national telephone network operator (telco) in Spain.
Telefónica is the largest corporation in Spain and has a large presence in Latin America. It owns Telefónica de España, the largest fixed phone and ADSL operator in Spain, Telefónica Moviles, the largest mobile phone operator in Spain, Terra Networks, S.A., an Internet subsidiary, Telefónica Publicidad e Información, S.A. (TPI), the publisher of the Spanish Yellow Pages edition, etc.
It was the only operator in Spain, being a monopoly, until 1997, when the government retired his total control over the corporation and Telefonica became a private company. Since then, the company has fought against the new operators in the country.
Telefonica Moviles is now market leader in Venezuela, with over 3.9 million customers at the end of the third quarter of 2004, in a market of 25 million inhabitants with an estimated penetration rate of 29%.
Telefonica Moviles is now market leader in Nicaragua, acquiring an operator with over 254,000 customers at the end of the third quarter of 2004 in a market of over 5.5 million inhabitants, with an estimated penetration rate of 7.8%.
Telefonica is the leading operator in the Spanish and Portuguese speaking markets and the sixth largest operator in the world in terms of market capitalisation.
Telefonica Moviles reported solid first-half 2003 results, both at the operating and financial level, recording net income of 779 million euros, compared to the losses of 4.333 billion euros recorded during the first half of 2002.
Telefonica Moviles Espana's results at the close of June 2003 reflect the consolidation during this period of the strategic commitment to increasing the value of the company, which has three main pillars: customer loyalty, selective customer acquisition and usage incentivation.
Telefonica Movil (a subsidiary of Telefonica CTC Chile and managed by Telefonica Moviles) closed the first half of the year with 1.944 million active clients, an increase of 14%.
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