The board of Spanish telco Telefonica de Espana will submit a reorganization plant to the company’s annual general meeting next Tuesday, the idea being to create a holding company with four separate operating outfits for domestic fixed telephony, international holdings, domestic mobile telephony and multimedia. The holding company is to be called Telefonica S.A., while the domestic fixed telephony operator, which will represent the bulk of the company’s existing revenues, will be Telefonica de Espana. While the current chairman, Juan Villalonga, will preside over the holding company, the executive tipped to head the restructured fixed operator is Lufs Martfn Bustamante, who is currently president of one of the group’s Latin American operations, Telefonica de Argentina, which supplies phone services to approximately half that country’s territory.
