Telefonica COO Angel Vila (pictured) sparked further speculation on the future shape of Vodafone Group’s operation in Spain, revealing in a Bloomberg interview his company had made a number of proposals to its rival on a fixed broadband agreement.

The news website reported Vila’s comments stating the proposals were with Vodafone for consideration. A wholesale deal or partnership are potential options on the table.

Stories based on his interview revived media speculation on the future of Vodafone’s Spanish unit, which regularly appeared in the business press even before the company revealed it was undertaking a strategic review of its operations in the country.

In recent weeks, various investment companies have been linked with interest in the Vodafone unit, which Bloomberg estimated to be worth $4 billion. These include Apollo Global Management and Warburg Pincus.

During Vodafone Group’s fiscal Q1 2024 investor call earlier this week, CEO Margherita Della Valle highlighted “good progress organically” in its attempts to improve its fortunes in the Spanish market, where it has cited struggles in recent years.

Changes so far this year include in its retail channel and commercial offerings.

Della Valle added service revenue should improve in the current quarter, but added “in the context of the market as we know, more needs to be done, which is where the inorganic aspects are also being taken into consideration”, noting a range of options are being considered.