Telefonica

Overview

This page considers Madrid-based telecommunications conglomerate Telefónica, which encompasses fixed and mobile phone interests, web portals, search engines and video production.

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Landmarks

1924 Compania Telefónica Nacional de Espana (Telefónica) established

1945 Spanish government buys 50% of Telefónica from ITT

1987 government sells 6% of Telefónica through a Public Offering for €283.7m, reducing stake to 32%

1989 Guardian (later GMG) buys stake in Broadcast Communications

1991 Puerto Rico sells 80% of long distance telephone service to Telefónica for US$140m

1995 Spanish government sells further 11% for €1bn

1995 Telefónica joins with Sogecable in Cablevision partnership

1995 Telefónica withdraws from Cablevision, Sogecable assumes full ownership

1996 Telefónica buys 35% stake in Companhia Riograndense de Telecomunicacoes (CRT) of Brazil

1997 Telefónica fully privatised through €3.88bn sale of govt stake

1997 acquires Spanish government television channel Antena 3

1997 buys 20% of Recoletos

1998 buys Telesp (Brazil) for US$4.9bn

1998 buys one hundred radio stations in Spain

1998 Endemol becomes partner in Broadcast Communications with 50% stake

2000 GMG sells Broadcast Communications stake to Endemol, which rebadges the business as Endemol UK

2000 Telefónica buys Endemol for £3.5bn

2000 Telefónica buys Lycos for US$12.5bn

2003 spins off Antena 3 stake

2004 buys Latin American assets of BellSouth for US$5.9bn

2004 Telefónica sells its 5% stake in Pearson for £236m

2005 pays US$3.5bn for 51% of Cesky Telecom

2005 Endemol buys Brighter Pictures for £15m

2005 Telefónica agrees to buy UK-based O2 Group for US$31.4bn

2006 sells 60% stake in directory publisher Telefonica Publicidad e Informacion (TPI) as part of Yell's €3.07bn bid for TPI

2006 acquires 51% of ISP Iberbanda (21.69% held by PRISA)