Telefonica Announces Plan to Increase Revenue by EUR2 Billion by 2022
November 27 2019 - 12:35PM
Dow Jones News
By Olivia Bugault
Telefonica SA (TEF.MC) said Wednesday that it has approved the
implementation of a plan that it says will generate more than 2
billion euros ($2.2 billion) in additional revenues by 2022.
The plan includes a decision to focus on key markets--Spain,
Brazil, the U.K. and Germany--the Spanish telecommunication company
said.
Among other decisions, Telefonica has also decided to reorganize
its business through the creation of two new units, Telefonica Tech
and Telefonica Infra, and to unify its businesses in Latin America,
the company said.
The new measures will increase the company's operating cash flow
margin by 2 percentage point by 2022, it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
November 27, 2019 12:20 ET (17:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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