Telefonica

Overview

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

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)