Telefónica navigates leadership shifts and calls for digital regulation

Telefónica is navigating several strategic and regulatory challenges in Spain. The company's leadership, specifically the continuity of CEO Marc Murtra, remains a subject of industry discussion. Murtra's management is influenced by a concentrated shareholder base, including the Spanish state through Sepi, Saudi Arabia's STC, and Criteria Caixa, which together hold approximately 30% of the capital.

On the regulatory front, CEO Emilio Gayo has called on Brussels to implement digital regulations that encourage long-term investment. Gayo emphasized that because telecommunications is a capital-intensive sector, regulations must allow companies to translate activities into results to sustain infrastructure deployment. He also highlighted artificial intelligence as a significant opportunity for improving customer relations.

Regarding infrastructure, the company reports high connectivity levels in Spain, noting that fiber reaches nearly 100% of households and 5G covers over 96% of the population.