Defying doom

CASE STUDY

Defying Doom at Telefónica

Telefónica’s transformation program: “Be More”

Telefónica is one of the leading telecoms companies in the world today. Established as a private company in 1924, and after many years of providing telecoms services only in Spain, from the beginning of the 1990s, Telefónica started a rapid expansion into Latin America and later into Europe, becoming one of the top players in the world. This geographical expansion and presence later proved to be a great asset to mitigate macroeconomic cycles that affected some regions in the world and not others.

With revenues above €50 billion and more than 310 million customers worldwide, Telefónica operates through its Movistar brand in Spain and Latin America, its O2 brand ...