Telefonica

Operator giants Telefonica and China Unicom yesterday announced plans to buy US$1 billion worth of stock in each other to deepen a strategic alliance.

Spain's Telefonica has introduced its platform for business applications, dubbed 'Aplicateca,' reports Telecompaper.

Spanish telecoms group Telefonica aims to bring talks with Telecom Italia to buy its German broadband division HanseNet to a close within the next few weeks, Bloomberg reports, citing Telefonica's chairman Cesar Alierta.

The Wall Street Journal reports that Telefonica today pledged to increase shareholder returns with higher dividends, but lowered its forecast to 2012 amid falling revenue in mature European markets.

The Italian government has raised concerns over Telefonica's 42.3 percent stake in Telco, the holding company that controls Telecom Italia, the Italian incumbent operator.

Telefónica yesterday launched a battle for control of GVT, the Brazilian telecommunications group, trumping by 14 percent an earlier tender offer by Vivendi of France, notes the Financial Times.

Telefónica is preparing to face down political opposition and keep its status as the largest shareholder in Telecom Italia, Italy's leading telecoms company, reports the Financial Times.