Telefonica SA

Synopsis

Telefonica is the largest telecommunications operator in the Spanish and Portuguese-speaking world. It provides fixed and mobile telephony, business services, Internet content and services, audiovisual media content, directories and guides, Customer Relations Management services and e-commerce. Its major markets are Spain and Latin America, though it has expanded into other regions, including Europe and Morocco, mainly through mobile telephone licenses, Internet activities, media and content, and corporate services. Telefonica is present in 49 countries. In April 2004, Telefonica agreed to buy the Latin American properties of BellSouth. An analysis of this purchase is given.

Table of Contents

• 1. Synopsis
• 2. Company information
  • 2.1 Year 2003 results
• 3. Acquisition of BellSouth’s South American properties
• 4. Company analysis – updated April 2004
  • 4.1 Over-expansion history in Latin America
  • 4.2 BellSouth’s assets
  • 4.3 Business synergies?
• 5. Company structure
  • 5.1 Subsidiaries
    • 5.1.1 Telefonica de Espana
    • 5.1.2 Telefonica Latinoamerica
    • 5.1.3 Telefonica Moviles
    • 5.1.4 Telefonica Empresas (DataCorp)
    • 5.1.5 Terra Lycos
    • 5.1.6 TPI
    • 5.1.7 Contenidos Group (Admira Media)
    • 5.1.8 Telefonica B2B
    • 5.1.9 Atento
• 6. Services
  • 6.1 Basic telephony
  • 6.2 International communications
  • 6.3 Mobile services
  • 6.4 Multimedia
  • 6.5 Private communications
  • 6.6 Communications services for companies
• 7. Contact details

• Table 1 – Telefonica Group operating statistics – December 2003
• Table 2 – Telefonica revenue summary – 1994 - 2003
• Table 3 – Revenue by subsidiary – 2003
• Table 4 – BellSouth’s Latin American portfolio – March 2004
• Table 5 – BellSouth International results – 2001 – 2003
• Table 6 – Telefonica de Espana operating statistics – 2003
• Table 7 – Telefonica Latinoamerica operating statistics – 2003
• Table 8 – Telefonica Moviles customers – 2003
• Table 9 – Telefonica Moviles subsidiaries – December 2003
• Table 10 – Terra Lycos paying subscribers – 2003

• Exhibit 1 – Telefonica SA at a glance
• Exhibit 2 – Telefonica SA subsidiaries – December 2003
• Exhibit 3 – Telefonica Latinoamerica subsidiaries and affiliates – December 2003
• Exhibit 4 – Telefonica Empresas subsidiaries and affiliates – December 2003
• Exhibit 5 – Terra Lycos subsidiaries and affiliates – December 2003
• Exhibit 6 – TPI Subsidiaries – December 2003
• Exhibit 7 – Admira Media subsidiaries and affiliates – December 2003
• Exhibit 8 – Atento subsidiaries and affiliates