Telefonicawatch issue 2008.01
6 February 2008
GROUP: Telefónica named Julio Linares as its Chief Operating Officer. The move sees Executive Chairman Cesar Alierta focusing more on strategic investments, such as China Netcom and Telecom Italia, while Linares will now have more clout as he continues to push for operational synergies across the Group. The company lost one of its most senior executives in the wake of the decision, however, with Juan Viana-Baptista, General Manager for Telefónica España, deciding to resign, apparently because he was not selected for the COO role. [pp.2-5.]
Telefonicawatch
Issue: 2008.1
Covering: December 2007 to January 2008
Published: February 2008
Next issue: February/March 2008
Delivering valuable insight into the labyrinth that is Spain’s global telco giant. A unique monthly report for the industry.
GROUP: Telefónica named Julio Linares as its Chief Operating Officer. The move sees Executive Chairman Cesar Alierta focusing more on strategic investments, such as China Netcom and Telecom Italia, while Linares will now have more clout as he continues to push for operational synergies across the Group. The company lost one of its most senior executives in the wake of the decision, however, with Juan Viana-Baptista, General Manager for Telefónica España, deciding to resign, apparently because he was not selected for the COO role. [pp.2-5.]
Telefónica also announced new board appointments, with directors who represent both ends of Spain’s political spectrum in an important election year. The appointments were greeted as canny manoeuvring on the part of Cesar Alierta, but his forward-thinking was called into question as one of the appointees, Manuel Pizarro, resigned after less than a month to stand in the Spanish elections. Subsequent board appointments also had a political undertow, with a Brazilian former-government minister for industry named director. [p.6.]
Telefónica paid just over EUR300m to increase its stake in China Netcom to 7.22%, from 5%. The company still intends to raise its holding to 10%, and possibly more. Cesar Alierta was also appointed to the Netcom board. Telefónica’s Asia Director had some frank advice on how the Chinese telco can become an effective competitor, and called on the Chinese authorities to adopt international standards. [pp.7-9.]
Telefónica invested in a number of start-up companies that reflect the Group’s focus on converging services. Kyte, a USA-based video-streaming technology developer, added Telefónica to investors, and GestureTek, a vision- and gesture-recognition developer targeting the mobile and gaming markets, also received a strategic investment from the telco. In an unusual development, both Telefónica and Vodafone were named as investors in Amobee Media, an Israeli mobile advertising solutions provider. [pp.10-11.]
Telefónica was reported to have established a new subsidiary to consolidate online purchasing across all its businesses. [p.11.]
TELEFÓNICA ESPAÑA: Telefónica was part of a consortium that won a EUR15.6m contract to upgrade communications for Malaga airport. Telit Wireless also highlighted its recent deployment of Telefónica’s M2M platform. [p.12.]
A 1Mbps broadband subscription costing EUR19.90 per month was launched in Spain. The low-cost service arrives as the Spanish media focuses on perceived high prices in the domestic broadband market. [p.13.]
Movistar España launched a new loyalty rewards programme that offers 1,000 minutes of free on-net calls to subscribers, for every year they have been with the operator. [p.13.]
Telefónica looks like it might get its own way on next-generation network investment, with the Spanish regulator, the CMT, apparently favouring a hands-off approach to deployment of new networks that would not oblige owners to grant rivals access to their infrastructure. Telefónica would have to allow access to cable routes to competitors that wanted to install their own fibre, however. [p.14.]
TELEFÓNICA LATINOAMÉRICA: Telefónica units in Brazil and Venezuela saw leadership changes, with Luis Mavido moving from Movistar Venezuela to take over at Telesp, and Juan Antonio Abellan, former-Central America Regional Director, taking the leadership role in Venezuela and also joining the Management Committee for the region. [p.17.]
Telefónica provided an update on its investment plans for Argentina, increasing its spending commitments for 2008. Investment in Brazil was said to have been 28% higher than a year earlier. [pp.17,19.]
Juniper announced it has completed an upgrade of Telefónica’s core network in Brazil. Gilat Satellite Networks highlighted the use of its platform for the provision of backhaul to Vivo by Telesp. [p.18.]
Vivo was awarded seven licences in the 3G spectrum auction in Brazil. A further auction for WiMAX licences is expected in early-2008. In Honduras, Telefónica withdrew from an auction for the country’s fourth mobile licence. Movistar Peru secured fixed-wireless spectrum, while in Venezuela Movistar was handed new spectrum intended to counter imbalances between the country’s two main operators. [pp.19,25,28.]
Due to regulatory issues, Vivo was required to sell Tele Norte Celular (trading as Amazonia) to rival Oi, just a few months after it had acquired the business as part of a deal to take control of Telemig. [p.20.]
Vivo finished 2007 with a 27.68% market share after recording only its second month of growth in the whole year. Movistar lost its market lead in Venezuela to state-owned Movilnet. Ecuador regulator Suptel reported Movistar experienced a slight fall in its customer base, but the accuracy of subscription figures in the country continues to be a matter of debate. [pp.21-22,25,28.]
The Chilean regulator set out its plans for the telecoms sector in 2008, with new calling rates and number portability on the agenda. The Ecuador government began some very tough talking as Movistar’s licence comes up for renewal. [pp.22,24.]
Movistar Colombia filed a complaint about anti-competitive practices at market-leader Comcel. In Mexico, Telefónica continued to support an investigation into alleged anti-trust activities at the incumbent and escalated an interconnection dispute with Nextel. [pp.23,26-27.]
Movistar Colombia secured a EUR400m loan from the Inter-America Development Bank to fund investment plans. A EUR20m Andean Development Corporation loan to Telefónica del Perú was approved. [pp.23,27.]
TELEFÓNICA O2 EUROPE: There were board changes at O2 UK, following the appointment of Ronan Burke as Chief Executive. Telefónica O2 Czech Republic integrated its public affairs and regulatory divisions into a single unit. [pp.29,35.]
In Germany, the Fonic low-cost brand passed the 100,000 customer milestone ahead of schedule. O2 Slovakia claimed nearly 10% in market share, after less than one year in operation. [pp.31,34.]
Telefónica Deutschland saw success for a complaint to German regulators about foot-dragging from Deutsche Telekom in unbundling. [p.31.]
O2 indicated it would launch fixed-broadband services in the underperforming Irish market, with Magnet and Smart Telecom identified as potential acquisition targets or partners. In the UK, plans for IPTV trials during 2008 were revealed. [pp.33,41.]
O2 UK simplified its tariffs for consumer and small business users. The operator also followed its competitors in putting a price cap on mobile data use. [pp.36-37.]
There was a general feeling in the media that O2′s launch of the iPhone in the UK was a disappointment, despite O2 maintaining that it met its sales targets and claiming satisfaction with its performance. Speculation about poor sales and the prevalence of handset unlocking was exacerbated by tariff price cuts that added to the impression that O2 was ill-prepared to deal with the hype and expectation that accompanies the iconic Apple device. [pp.42-43.]
ASSOCIATES & INVESTMENTS: China Netcom still looks likely to receive a mobile licence, as fixed-line subscriber losses continue. Analysts lowered their expectations for Portugal Telecom‘s performance, following the PT Multimedia spin-off. Both companies are identified as takeover targets. Media giant Prisa is making a bid for full control of Sogecable, which could see Telefónica in a position to buy its Digital+ unit. Telecom Italia looks like it might spin-off its network business in a move thought to be a compromise between Italian government wishes, and Telefónica’s resistance to network separation. [pp.44-49.]
APPOINTMENTS
Linares named COO as management changes continue
Telefónica announced that Julio Linares, Telefónica General Manager for Coordination, Business Development and Synergies, was to become the Group’s Chief Operating Officer (COO), filling a role that had ceased to exist in 2003 when current Executive Chairman César Alierta had consolidated his control of Telefónica’s management. The departure of Telefónica España’s Managing Director was also announced.
The appointment of Linares, who has widely been regarded as the right-hand man of Alierta for several years, is expected to see the Executive Chairman step back from operational management to focus on strategic Group matters.
Telefónica stressed that Linares’ new role would not affect the focus of the Group on its stated priorities of customer service and releasing economies of scale. However, the three main regional units, España, Latinoamérica, and O2 Europe, will now report to Linares instead of reporting directly to Alierta. The heads of these units will remain as Group board members.
Telefónica’s support units will also report in to the COO. The executives heading these four groups are: Alfonso Alonso (Operations); Sohail Qadri (Strategy, Innovation and Business Development); Laura Abasolo (Planning, Budgeting and Monitoring); and Oscar Maraver (Human Resources).
In addition to Linares, the Telefónica executives still reporting to Alierta are: Santiago Fernandez Valbuena, Group Finance Director; Ramiro Sanchez de Lerin, head of the Legal and Board Secretariat; and Luis Abril, head of the Technical Secretariat to the Chairman’s Office.
Internal Auditing will now report to the Finance and Corporate Development unit.
Viana-Baptista steps down, to be replaced by Ansaldo
At the same time as the promotion of Linares was revealed, the departure of Antonio Viana-Baptista, General Manager of Telefónica España, was announced. Viana-Baptista was responsible for fixed and mobile operations in Spain, which were integrated under his management. Prior to this, he was the head of mobile operations for Spain and Latin-America.
Viana-Baptista is to be replaced as General Manager of Telefónica España by Guillermo Ansaldo, previously Viana-Baptista’s deputy. Belen Amatriaín, who was formerly responsible for mobile operations in Spain, will become Deputy General Manager and Chief Executive of Telefónica España.
Telefónica also announced that Antonio Hornedo Muguiro, Deputy-General Secretary and Secretary of the Board of Directors, is to step down and be replaced in the role by Ma Luz Medrano Aranguren.
Viana-Baptista leaves due to poor promotion prospects?
There was a notable absence of a fond farewell for Viana-Baptista as his departure was announced, with his decision to leave attributed to “personal reasons” and his service to the Group afforded a perfunctory ‘thank you’. Reports in the press indicated that he resigned in frustration, following the elevation of Linares.
It is understandable that Viana-Baptista could have become exasperated by developments at the company, where continued changes to the management structure of the business had seen him move from mobile markets in exciting and developing international markets to running what is essentially a domestic utility business, albeit a successful and strategically important one.
Telefónica removed from its constitution a requirement that executive directors retire at the age of 65, as well as a similar restriction on non-executive directors that required them to retire at 70. Telefónica’s two most senior executives, Alierta and Linares, are both 62.
Comment: what now for the Chairman?
Telefónica’s Chairman César Alierta has a reputation for being a particularly hands-on leader of the company, which he runs in many ways contrary to current orthodoxy on corporate governance. The naming of a Chief Operating Officer would appear to be a compromise between the situation as it had existed until the end of 2007, where it was said that “everything passes through Alierta’s hands”, to a conventional separation of the Chairman and Chief Executive roles.
The consensus among observers is that the shift does not mark a move by Alierta towards retirement, and that there is still plenty to be done on the Group’s strategy. Making the investment in Telecom Italia work for Telefónica will be a significant challenge, and the increased involvement in the Chinese market through a 10% stake in China Netcom will also require attention, particularly as the primarily fixed-line Chinese business looks to move into the mobile market.
Telefónicawatch has considered for some time that Telefónica’s tendency towards decisive and opportunistic action in terms of acquisitions has much to recommend it, but can lead to situations such as that surrounding Telecom Italia, where it finds itself having to extricate itself from difficult political and regulatory tangles. Fortunately, this type of manoeuvring seems to be a skill possessed by Alierta, as evidenced by his moves to keep both ends of the mainstream Spanish political spectrum happy with recent board appointments (see separate report), and a task he relishes in. It will be an ability that will be tested, as Telefónica tries to increase its influence in markets such as Italy, China, and parts of South America where the role of business and politics can seem to blur.
Telefónicawatch will also be interested to see how long Alierta will be able to resist the temptation of another big deal, either in Europe or more likely Latin America. It will also be interesting to see if Alierta chooses to lock horns with Carlos Slim in the battle for market share in the region, and whether Alierta will decide to resurrect efforts to take sole control of Brazil’s Vivo now he is free to focus on such matters. Telefónica’s self-imposed spending cap had meant its last attempt to take control of the joint-venture with Portugal Telecom (PT) was effectively conducted with one hand tied behind its back, but PT is still a potential target itself for acquisition and this could give Alierta another challenging project to work on.
COO to focus on tough challenges ahead?
Having an executive dedicated to managing the day-to-day operations of the business is vital not only in enabling Telefónica to develop a clear, carefully thought-out growth strategy, but also ensures that existing business is able to remain competitive.
Telefónica has set itself ambitious targets for performance across its units. Mobile markets in Europe are now moving rapidly in the direction of mobile data services, and Linares was notably enthusiastic about Telefónica’s potential in this regard at the recent Investors Conference. In Latin America, there are clear opportunities for growth in developing areas, such as broadband and pay-TV, with the company well placed, but facing regulatory challenges, as well as competitive and technological ones.
In some ways, Linares’ areas of focus will not change significantly with the new role; the major difference will be his increased authority and ability to act. Linares has been leading efforts to encourage integration and the development of synergies since the O2 acquisition and, while he has been upbeat about the idea of horizontal as well as vertical integration, it would seem likely that managing the melding of different units — which will inevitably see territorial and political battles — needs an executive with the power to force through decisions where necessary.
Linares’ position will also benefit from the fact that two of the directors reporting to him, Matthew Key at O2 and Guillermo Ansaldo at Telefónica España, are coming into their new roles at the same time as he takes up the COO post.
Reaction
” In our view, Viana-Baptista was hoping the vacant post of CEO would become his at some point, and Linares’ promotion has, understandably, upset his ego. “
” Linares was an obvious choice for the job. After working for the company for over four decades, he has a tremendous wealth of experience, not only regarding the telecommunications industry, but also how Telefónica works internally and the recent changes and challenges it has gone through. As head of Synergies, he has also had the opportunity to work closely with the different business units — something he will have to do in greater detail in his new role as CEO. ”
– Marta Munoz Mendez-Villamil, senior analyst at Ovum.” Viana-Baptista is very young [at around 50] and the statement that he is leaving for personal reasons could mean two things: he’s found another position or he’s unsatisfied with being placed below both César Alierta and Linares. “
– an unnamed analyst at a leading Portuguese bank.
[Telefónica, December 2007; El Pais, Financial Times and Ovum, 20 December 2007.]
Telefónica appoints politically influential non execs…
Telefónica named Manuel Pizarro and Javier de Paz as new non-executive directors of the company in mid-December but, by mid-January, Pizarro had stepped down from the role.
Pizarro is a former chairman of Endesa, the largest utility business in Spain, and de Paz previously Chairman of Mercasa, a state-owned company promoting agricultural business. The two new directors were noted for their links to Spanish politics — de Paz led the youth wing of the Socialist Workers’ party in Spain, and is known to be a close friend of current socialist Prime Minister, Jose Luis Rodriguez Zapatero, while Pizarro is linked to the Popular Party, Spain’s current main opposition group.
The new board appointments were viewed by many observers as shrewd, providing a presence within the Telefónica management set-up for both main political groups that will be contesting the Spanish general election in March, which is apparently too close to call.
Pizarro and de Paz replaced Enrique Used and Maximino Carpio on the board. Pizarro, de Paz, and fellow non-executive director Alfonso Ferrari also joined the Executive Commission of the company’s board of directors.
[Telefónica, 19 December 2007.]
…but Pizzarro appointment short-lived
Early in 2008, Manuel Pizarro was named as an electoral candidate for the Popular Party, which meant he was required to resign his corporate positions, including his non-executive role at Telefónica.
Telefónica was subsequently required to name new non-executive directors, replacing Pizarro, as well as the recently departed General Manager for Telefónica España, Antonio Viana-Baptista. Eva Castillo Sanz, a Regional Director of Wealth Management for Merrill Lynch, and Luiz Fernando Furlan, a former Brazilian Industry Minister, were appointed. Sanz will be Telefónica’s first female board member.
While the appointment of Pizarro was seen as a canny political move on the part of César Alierta, the Telefónica Chairman’s failure to predict Pizarro’s decision to eschew business in favour of a political career must be seen as something of a blunder. However, the new board appointments only further demonstrate Telefónica’s willingness to play a political game.
Telefónicawatch notes that with the telco currently a significant presence in Brazil, but caught up in complicated ownership structures, a board member with political clout in the country could help extricate Telefónica from its present predicaments.
[Telefónica, 23 January 2008.]
New head investor relations named
María García-Legaz was named as the new Director of Investor Relations at Telefónica, following the appointment of the former head, Ezequiel Nieto, to the role of Controller for the company.
Before taking on the investor relations post, García-Legaz was responsible for the Office of the General Manager, Telefónica España.
[Telefónica, 8 January 2008.]
2 Telefónica Group
2 Acquisitions and disposals; Appointments
4 Board appointments
7 Associates and investments
10 Financial reports
11 Operations
12 Telefónica de España
12 Contracts;
Marketing
13 Broadband;
Mobile services
14 Networks
15 Operations
16 Partners; Regulatory
17 Telefónica Latinoamérica
17 Regional appointments;
Argentina
18 Brazil
19 Brazil: Vivo
22 Chile
23 Colombia
24 Equador; El Salvador
25 Honduras; Panama
26 Mexico
27 Peru
28 Uruguay; Venezuela
29 Telefónica O2 Europe
29 Czech Republic
31 Germany
33 Ireland
34 Slovakia
35 United Kingdom
42 iPhone; 02 Asia
44 Associates and investments
44 China Netcom
45 Portugal Telecom
48 Sogecable
49 Telecom Italia
50 INDEX
Symbols
1&1, 31
2ergo, 39
2nDimension, 39
A
Aktiv Kapital, 11
Alegro, 25
Amazonia Celular, 20
América Móvil, 23, 24, 25, 28
Claro, 19, 21, 22, 28
Comcel, 23, 24
CTI Móvil, 28
Porta, 24, 25
Slim, Carlos, 4, 24, 27, 48
Telcel, 26, 27
Anatel, 8, 18, 19, 20, 21, 22
Andean Development Corporation, 27
Apple, 15, 37, 41, 42, 43
iPhone, 36, 37, 41, 42, 43
Jobs, Steve, 42
ASEP, 25
AT&T, 41
Avanzit, 12
B
Banco Bilbao Vizcaya Argentaria, 12
Banco BPI SA, 20, 22
Bear Stearns, 45, 49
Berenberg Bank, 33
Bohemia Real Estate Investment, 30
Brasil Telecom, 21, 49
British Broadcasting Corporation, 41
BSkyB, 37
BT Group, 37
PlusNet, 37
C
Cable & Wireless, 25
Cade (Brazil), 8
Cantv, 28
Carphone Warehouse, 41, 42
TalkTalk, 37
CFC (Mexico), 27
Channel 4, 38, 41
Chevreaux, 10
China Mobile, 44
China Netcom, 4, 7, 8, 9, 10, 44, 45
China Telecom, 8, 9, 10, 44
China Unicom, 44
Chris Klein COM, 32
Citigroup, 20
CMT, 13, 14
CNC (Argentina), 8
CNDC, 8
Columbia Ventures, 33
Magnet, 33
Competition Commission, 27
ComReg, 33
Conatel, 25, 28
Critical Path, 40
CRT (Colombia), 23
CSL, 42
D
Datamonitor, 43, 48
DB Netz, 32
Deutsche Bank, 47
Deutsche Telekom, 3, 31
T-Mobile, 38
E
Eircom, 33
Erste Bank, 30
Esmertec, 26
ETB, 23
European Union, 13
European Investment Bank, 27
F
Federal Network Agency, 31
Fitch Ratings, 46
France Télécom, 3, 48
Orange, 37, 38, 41, 48
Orange UK, 41
G
Gartner Group, 42
Gas Natural, 16
Ghana Telecom, 47
Gilat Satellite Networks Ltd, 18
Goldman Sachs, 45, 49
Google, 11
Grupo Santander
Santander, 12
H
Handspring
Treo, 27
Hansenet, 31
HBO, 41
High Court, 38
High Tech Computer Corp. (HTC), 38
Hondutel, 25
Hoodiny Entertainment Group, 13
Cyloop, 13
Huawei, 31
Hutchison Whampoa
H3G
UK, 38
I
IDC, 19
Inter-American Development Bank, 23
IQlink, 38
ITV, 41
Iusacell, 25, 26
J
Jazztel, 14, 16
JPMorgan Chase, 45
Juniper Networks, 18
K
KDDI Group, 45
Komercni Banka, 30
L
La Caixa, 10, 15
Learning Possibilities Group, 38
M
MACH, 16
Martin Dawes, 39
Martin Dawes Systems, 39
McCann Erickson, 33
Mediapro, 48
Merrill Lynch, 6
Microsoft, 10, 27
Millicom International Cellular, 24, 25
Morgan Stanley, 44, 45
MVNOs, 25, 40, 46
N
News Corporation
BSkyB, 37
Sky, 38
News Group Newspapers, 39
NII Holdings, Inc., 26
Nextel Mexico, 26
Nokia, 10, 32, 39
Nominum, 32
NTT
DoCoMo, 10
O
Ofcom (UK), 40
Olympic Games
Beijing (2008), 45
Orascom, 3
Osiptel, 27
Ovum, 5, 41
P
Palm, 27
PayForIt, 35
Portugal Telecom, 4, 7, 20, 45, 46, 47
Africa Holding, 47
Granadeiro, Henrique, 45
Positivo Informática, 19
Prisa, 48
ProInversión, 28
R
Raiffeisen, 30
Regions
EMEA
Belgium, 2
Czech Republic, 11, 29, 30, 34, 41
Europe, 2, 4, 5, 10, 11, 13, 27, 29, 31, 33, 34, 35, 40, 41, 42, 46
France, 3, 12, 48
Germany, 2, 31, 32, 33
Ireland, 33
Italy, 4, 49
Portugal, 4, 7, 12, 20, 45, 46, 47
Slovakia, 30, 34
Spain, 2, 3, 4, 6, 7, 10, 11, 12, 13, 14, 15, 16, 20, 21, 33, 41, 48
UK, 11, 29, 35, 36, 37, 38, 39, 40, 41
Latin America, 2, 3, 4, 5, 8, 17, 21, 22, 27
Argentina, 8, 17
Brazil, 6, 8, 17, 18, 19, 20, 21, 22, 49
Central America, 17, 26
Chile, 22, 23
Colombia, 23, 24
Ecuador, 24, 25
El Salvador, 24, 26
Guatemala, 26
Mexico, 24, 25, 26, 27, 48
Nicaragua, 26
Panama, 25, 26
Peru, 27, 28
Uruguay, 28
Venezuela, 17, 28
Research In Motion
BlackBerry, 22
Royal KPN, 2
E-Plus, 2, 32
S
Samsung, 37
Scanbuy, 21
SIC (Colombia), 23
Slovakian Telecommunications Office (TU), 34
Slovak Telecom, 34
Smart Telecom, 33
Sogecable, 4, 48
Sonaecom, 46
Sony, 10
Subtel (Chile), 22
Suptel, 25
T
Tanla Mobile, 35
Technologies
2G, 31, 38, 40
CDMA, 22, 25, 30
3G, 8, 14, 17, 18, 19, 30, 31, 38, 42, 48, 49
HSDPA, 27
4G
WiMAX, 19
ADSL, 13, 27, 29
Bluetooth, 22, 37
Broadband, 5, 13, 14, 17, 18, 19, 22, 27, 31, 32, 33, 37, 40, 41, 44, 45, 46, 48
DSL, 31
GPRS, 39
GSM, 18, 22, 25, 32, 40, 41
IP, 18
IPTV, 41
M2M, 12
MMS, 29, 39
MPLS, 18
NGN, 14
SIM, 32
SMS, 11, 29, 32, 39
TDMA, 22, 25
TD-SCDMA, 8
UMTS, 27
VoD, 41
VoIP, 32
VPN, 18
WLAN
Wi-Fi, 22, 36, 37
Telco SpA, 7, 8
Telecom Italia, 4, 7, 8, 22, 31, 33, 49
HanseNet Telekommunikation, 31
TIM Brasil, 21, 49
Telefónica Group, 2, 11, 14
Associates and investments, 11
China Netcom, 4, 7, 8, 9, 10, 44, 45
GestureTek, 10
Kyte, 10
Portugal Telecom, 4, 7, 20, 45, 46, 47
Sogecable, 4, 48
Telecom Italia, 4, 7, 8, 22, 31, 33, 49
Atento, 2
Directors
Castillo Sanz, Eva, 6
de Paz, Javier, 6
Fernando Furlan, Luiz, 6
Pizarro, Manuel, 6
España, 2, 3, 4, 5, 6, 12, 13, 15, 16
Movistar, 13
Executives
Abellan , Juan Antonio, 17
Abril, Luis, 2
Alierta, César, 2, 3, 4, 5, 6, 7, 14, 20
Alonso, Alfonso, 2
Amatriaín, Belen, 3
Anglada, Salvador, 30
Ansaldo, Guillermo, 3, 5
Bueltermann, Joerg, 31
Burckhardt, Simon, 29
Caride, Eduardo, 17
Cowdry, Sally, 37, 38
Diaz de Mera, José Luis, 24
Dowd, Ben, 35, 40
Dunne, Ronan, 35
Erskine, Peter, 2, 11, 33
Feistel, Holger, 31
Fernández Valbuena, Santiago, 2
García-Legaz, María, 6
Hong, Chen, 8, 9
Johansen, Matts Erik, 29
Key, Matthew, 5, 40, 42
Linares, Julio, 2, 3, 4, 5
Manoff, Glenn, 35
Mavido, Luis, 17
Medrano Aranguren, Ma Luz, 3
Mosova, Monika, 29
Nieto, Ezequiel, 6
Pickering, Ann, 35
Qadri, Sohail, 2
Riddell, Grahame, 38
Rohrsen, Karl-Wilhelm, 31
Sanchez de Lerin, Ramiro, 2
Sedivy, Juraj, 34
Shaw, Russ, 10, 11
Sita, David, 29
Viana-Baptista, Antonio, 3, 5, 6, 7
Ward, Matt, 35
Latinoamérica, 2, 4, 17
Argentina, 17
Brazil, 17, 18, 19
Chile, 22, 23
Colombia, 23, 24
Mexico, 26, 27
Peru, 27, 28
Móviles, 13
Movistar, 12, 13, 21, 22, 23, 24, 25, 26, 27, 28
Chile, 22
Colombia, 23, 24
Peru, 28
O2 Europe, 2, 4, 5, 11, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43
Czech Republic, 29, 30, 41
Fonic, 31, 32
Germany, 2, 31, 32, 33
Ireland, 33
O2 Broadband, 37, 40
O2 Group, 42
Slovakia, 34
Telefónica Deutschland, 31, 32
UK, 35, 36, 37, 38, 39, 40, 41, 42
Products and services
Genion (Germany), 31
Imagenio, 48
O2 Active, 38
TRIO, 48
Telco SpA, 7, 8
Telefónica Comercio Electronica, 11
Terra, 13
Teléfonos de México (Telmex), 27
Telemar
Oi, 19, 20, 21, 49
Telemig Cellular, 20
Telemig Celular (Brazil), 20
Telemóvil, 24
Telit Wireless, 12
Tesco, 33, 40
Tesco Mobile, 33, 40
Thomson, 2, 7, 21
Tigo, 25
Time Warner
AOL, 37
Warner Bros, 41
U
UBS, 22
Unefon, 26
V
VCCP, 31
Vivendi Universal, 48
Vivo Participações, 4, 18, 19, 20, 21, 22, 45
Vodafone Group, 3, 11, 33, 36, 38, 39, 40, 41
UK, 39
Y
Yahoo!, 11
Yankee Group, 28
Yoigo, 14
Z
ZenithOptimedia, 38
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