Telefonica SA (TEF) Company Overview

Telefónica Tech will incorporate IBM's quantum-safe technology into its cybersecurity services to tackle new and upcoming risks linked to the rise of quantum computers that can affect encryption. This partnership involves setting up IBM's quantum-safe technology at Telefónica Tech's main office in Madrid, Spain, to enhance business growth focused on improving cyber resilience and adaptability to potential vulnerabilities.

According to a report by the newspaper Expansion on Wednesday, Spanish telecom company Telefonica has engaged investment bank JPMorgan to assess the potential sale of its business in Argentina, as stated by unnamed sources familiar with the situation.

Movistar, a division of Telefonica, is leading the way in using AI for its customers in Spain by offering them free access to Perplexity Pro for a year.

The state-owned investment fund SEPI has suggested replacing Telefonica's Chief Executive, Jose Maria Alvarez-Pallete, who has been in charge since 2016, according to a source familiar with the situation, as reported by Reuters on Saturday.

The board of Spanish telecom company Telefonica decided on Saturday to end Chief Executive Jose Maria Alvarez-Pallete's contract. They will appoint Marc Murtra, the chairman of Indra, as his replacement, according to a statement made to the stock market regulator.

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TEF's 5G network covers over 90% of the population in Spain, reaching more than 1,500 towns and cities with a frequency band of 3,500 MHz.

This Industry Outlook article has pointed out Deutsche Telekom, Telefonica, and Telefonica Brasil.

The rapid rollout of 5G technology and the need for flexible infrastructure are expected to benefit the Zacks Diversified Communication Services sector, even with global challenges. Companies like DTEGY, TEF, and VIV are in a strong position to take advantage of the improvements in infrastructure for better connectivity.