Tuesday, October 11, 2016

Telefonica's maneuver margins reduced to address finances thereof

Alvarez Pallete makes new moves to make progress in the Company’s restructuring and digitalization but must fulfill promise to pay dividends and reduce debt, which exceeds the company’s value on stock exchange.

Jose Maria Alvarez Pallete continues moving forward with its plan to restructure Telefonica. The president of the company eliminated in Spain the territorial councils established by César Alierta at the beginning of his administration. The measure involves centralizing decisions and eliminating interference from regional governments and parliaments. On the other hand, Eduardo Navarro, Telefónica General Commercial Digital Director and one of the supporters of Pallete, will take over Telefónica de Brasil direction, replacing Amos Genish. Thus, Pallete adds to ther important subsidiary other trustworthy man to implement his restructuring plan, after placing in front of the Mexican subsidiary, Carlos Morales Paulín.

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