Telefónica’s CEO José María Álvarez-Pallete talks about the proposed combination of Virgin Media and O2 with La Sexta.

He provides insight into the challenges of agreeing the biggest deal in Telefónica’s history against the backdrop of the COVID-19 lockdown.

On the opportunities the creation of a National Connectivity Champion will bring to the UK and the impact it will have on Telefónica, José María said:

“It is a huge market, we are giving birth to a JV that is born with 46 million connections and above all, a tremendous opportunity. To give you an idea, the penetration of fibre, for example, in Spain – it’s 80% of its territory, while in the UK is 26%. There is huge capacity for growth and, therefore, being able to participate in such a great opportunity, in such a large and attractive economy as the UK, has the power to transform Telefónica.”

 

Download English transcript of the interview