Latest news with #MarcMurtra
Yahoo
14 hours ago
- Business
- Yahoo
Telefonica ditches Huawei's 5G gear in Spain and Germany; keeps it in Brazil
MADRID (Reuters) -Spanish telecom giant Telefonica is replacing all of its 5G equipment made by Chinese manufacturer Huawei in Spain and Germany to comply with local rules, but it intends to keep it in Brazil. "In both Germany and Spain, we are reducing our exposure to Huawei following the rules we have in these countries," Chief Operating Officer Emilio Gayo told Reuters on Wednesday. In both countries, telecom companies must phase out Huawei-made devices in core 5G networks over concerns the Chinese company's handling of the critical infrastructure could pose a potential security risk. In Britain, where Huawei gear is also banned, "we have a very, very low exposure to Huawei," Gayo added. However, neither Brazil nor other Latin American countries restrict the use of Huawei gear. Telefonica's Chief Executive Marc Murtra said his company made sure that all equipment from every provider complied with the same strict standards, guaranteeing security for the company and its customers.
Bloomberg
14 hours ago
- Business
- Bloomberg
Telefonica Eyes Defense Contracts with NATO and EU Allies
Telefonica SA has identified an opportunity to grow its defense business outside Spain as countries across Europe ramp up military spending, its executive chairman says. The Madrid-based carrier, which supplies network infrastructure to the Spanish army and security forces, can sell its capabilities to 'allied countries, whether within the European Union, within NATO or beyond,' Executive Chairman Marc Murtra said in an interview Wednesday.
CNA
14 hours ago
- Business
- CNA
Telefonica swings to second-quarter net loss on weaker real, write-off
MADRID :Spain's Telefonica swung to a net loss of 51 million euros ($59 million) in the second quarter due to adverse currency moves and impairments on assets sold in Latin America. The telecoms giant's net loss compared with a 417-million-euro net profit in the same period a year ago. Overall revenue fell 3.7 per cent to 8.95 billion euros, mainly due to the depreciation of the Brazilian real against the euro. Analysts had expected a net profit of 104 million euros and overall revenue of 8.92 billion euros, according to a company-provided consensus. "The results of the quarter are in line with internal expectations," CEO Marc Murtra said in a statement, reiterating the company's targets and dividend payouts for the year. "We keep showing a solid behaviour, which demonstrates resilience and consistency despite different dynamics in the markets we operate in amid an uncertain economic context." Telefonica's profit from operations fell sharply despite its efforts to increase efficiency through technology and raise prices in markets such as Spain and Brazil. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 4.8 per cent year-on-year to 2.92 billion euros, in line with analyst expectations. EBITDA rose in Spain and Brazil, but fell in Germany and Spanish-speaking America. The company booked a 206-million-euro impairment on the value of the Peruvian unit it sold earlier this year. Telefonica sold units in Argentina and Peru for $1.25 billion and 900,000 euros, respectively. It had already booked accounting losses on these sales worth 1.7 billion euros in the first quarter and it had written 314 million euros off the value of the Peruvian unit in the third quarter of 2024. The company has also exited Colombia. Murtra has said he wants to reduce the company's exposure to Spanish-speaking Latin America and focus on its four main markets: Spain, UK, Germany and Brazil. He declined to give details about possible asset sales in Mexico and Chile or whether further write-offs might be necessary. ($1 = 0.8654 euros)
Yahoo
15 hours ago
- Business
- Yahoo
Telefonica ditches Huawei's 5G gear in Spain and Germany; keeps it in Brazil
MADRID (Reuters) -Spanish telecom giant Telefonica is replacing all of its 5G equipment made by Chinese manufacturer Huawei in Spain and Germany to comply with local rules, but it intends to keep it in Brazil. "In both Germany and Spain, we are reducing our exposure to Huawei following the rules we have in these countries," Chief Operating Officer Emilio Gayo told Reuters on Wednesday. In both countries, telecom companies must phase out Huawei-made devices in core 5G networks over concerns the Chinese company's handling of the critical infrastructure could pose a potential security risk. In Britain, where Huawei gear is also banned, "we have a very, very low exposure to Huawei," Gayo added. However, neither Brazil nor other Latin American countries restrict the use of Huawei gear. Telefonica's Chief Executive Marc Murtra said his company made sure that all equipment from every provider complied with the same strict standards, guaranteeing security for the company and its customers. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
15 hours ago
- Business
- CNA
Telefonica ditches Huawei's 5G gear in Spain and Germany; keeps it in Brazil
MADRID :Spanish telecom giant Telefonica is replacing all of its 5G equipment made by Chinese manufacturer Huawei in Spain and Germany to comply with local rules, but it intends to keep it in Brazil. "In both Germany and Spain, we are reducing our exposure to Huawei following the rules we have in these countries," Chief Operating Officer Emilio Gayo told Reuters on Wednesday. In both countries, telecom companies must phase out Huawei-made devices in core 5G networks over concerns the Chinese company's handling of the critical infrastructure could pose a potential security risk. In Britain, where Huawei gear is also banned, "we have a very, very low exposure to Huawei," Gayo added. However, neither Brazil nor other Latin American countries restrict the use of Huawei gear. Telefonica's Chief Executive Marc Murtra said his company made sure that all equipment from every provider complied with the same strict standards, guaranteeing security for the company and its customers.
