Yesterday, after Telefónica Móviles took over BellSouth in the country, the Spanish company announced the designation of Sergio Regueros Swonkin as the new operator's president. The position will solidify within the next few days, replacing American Larry Smith. Regueros Swonkin served as ETB president in 1998. According to a press communication, Telefónica will keep the BellSouth brand until the first 2005 quarter, after that it will be called Movistar. The transfer of U.S. assets to Telefónica was valued at US$ 1.05 billion