After celebrating its 100th anniversary in 2024, Telefónica is laying the foundation for a new era in its history. Marc Murtra, the CEO who unexpectedly took the helm on Saturday, January 18, is embarking on a “strategic review,” where Europe, its geopolitical weight, and the market consolidation trend in telecommunications play a key role. In this repositioning, its operations in Spanish-speaking Latin America appear to be a burden the company aims to shed as soon as possible.