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1990 Annual Report

1990 Annual Report

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- Highlights
  
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- Letter from the Chairman
  
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- Continuing investment drive
  
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- Basic telephone service
  
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- Business communications and new services
  
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- Research and development
  
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- Human resources development
  
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- International relations
  
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- The Telefónica Group
  
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- Financial Review
  
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- Shareholder's Information
  
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- Management
  
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