Telefónica's results for the third quarter and first nine months of the year reflect the impact of the reduction in the workforce in Spain; the divestment of operations in Panama (September 1), Nicaragua (May 1), Guatemala (January 1) and Antares (February 1); and the sale of nine data centers. The capital gains recorded for these last operations amount to € 664 million between January and September (the Panama operation - € 199 million - and the data centers - € 197 million- correspond to the third quarter).