Spain’s Largest Telecom Service Provider Telefonica is planning to rejuvenate its business. Although it is one of the top 3 telecom services providers in all of Europe along with Vodafone and Orange, the growth is negligible. The main reason behind a slow or non-existent growth is the heavy competition in the sector with numerous players crowded in the market.
Telefonica has decided to diversify its income and for that, they have announced to use their telecom towers. According to a Reuters report, the company recently announced that they have over 50,000 mast sites outside its main tower unit Telxius. They want to share this infrastructure with the public and private sector players alike. This would help the company in reviving its falling income and utilize its assets in a more efficient manner by earning over €350 million.