Our five pillar strategy to build a scalable platform for sustainable growth and returns…

Focus on our four core markets

Spain, Germany, UK and Brazil are our free cash flow and capital generation engines, each positioned at scale for long term growth and value creation

Reduce Hispam exposure

Optimising our non-core operations for separation, to streamline our structure and reduce regional exposure

Optimise Telefónica Tech

Building on our Cloud, Cybersecurity and IoT & big data carve-outs to enhance our agility, focus and capabilities to capitalise on global growth in demand in each

Develop Telefónica Infra

Unlocking the value of our infrastructure expertise and asset base while building a leading global infrastructure player

Simplify our operating model

Implementing a new organisational model to accelerate the simplification, efficiency and digitalisation of Group operations