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Letter from José María Álvarez-Pallete


A new era begins today.

And that’s why these lines are undoubtedly the most important ones that I have written to you since I was appointed chairman of Telefónica. In this letter, I am going to talk to you about the world that is coming and our response to the changes that this new world will bring about.

Society, our customers, our shareholders, and all those who work and have a relationship with us, are going to find a new Telefónica. A new Telefónica that, rooted in our history, we have designed to continue to be at the forefront of the new challenges posed by today’s changing world. Today I am going to talk to you about the new Telefónica.

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Press release

Wednesday, November 27th 2019

The company will implement an action plan, approved today, which will serve as a catalyst for the company's transformation. This plan consists of five strategic decisions: A focus on key markets of Spain, Brazil, the UK and Germany; the creation of Telefónica Tech; the creation of Telefónica Infra; operational spin-off of Hispanoamérica; and the redefinition of the corporate centre.

“I'm talking about a new Telefónica. A company prepared for our next 100 years. A Telefónica committed to making our world more human and moresustainable.

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