The Spanish telecommunications company has announced that it will spin off its operations in Spanish-speaking Latin America and that it will prioritize the Spanish, Brazilian, German and British markets, since the likelihood of growth is higher there. The goal for Spanish-speaking Latin America is now to prevent operations from losing their value, for which purpose “all options are open.”

“We need to find a way to strengthen our operations in Spanish-speaking Latin America, which are now weakening because they cannot outpace inflation. This can be achieved by means of alliances, combinations… there are several ways,” remarked the company’s president, José María Álvarez-Pallete, in a press release. “It is time to open the debate and find out a new way,” he added. “The goal is to strengthen them; if that means reducing out position, we will do so,” he concluded.

As regards the Brazilian market, Ángel Vilá, another Telefónica top executive, asserted that the possibility of purchasing Oi Company’s mobile business is being analyzed.