Telefónica announced a sweeping re‑organization of its Spanish operations, splitting the business into three independent commercial units – B2B, B2C and wholesale – and dissolving the board of its pay‑TV platform Movistar Plus, which had been chaired by Javier de Paz. The move, driven by CEO Marc Murtra, aims to cut duplication, speed up decisions and simplify the corporate hierarchy.
At the same meeting the board approved moving the company’s legal address from the historic Gran Vía 28 building to the Ronda de la Comunicación campus in Las Tablas. The iconic Gran Vía tower was sold to real‑estate investor Tomás Olivo for €200 million, finalising a deal started last year and supporting Telefónica’s debt‑reduction plan.