Telefónica is replacing its previous operating model in Spain with three independent business units: B2B España, B2C España and Mayorista España. The change follows the sale of its historic Gran Vía 28 headquarters, completed on 1 September. Businessman Tomás Olivo bought the property through his company Galerías Comerciales in a deal worth less than 200 million euros, information from sources cited by Europa Press.
The registered office will move from Gran Vía 28 to Ronda de la Comunicación in Madrid. The address is in the Central Building at the complex formerly known as Distrito C, now called Distrito Telefónica. The board also approved an amendment to article 3.1 of the company's articles of association to reflect the move.
Expansión reported that the three-unit restructuring was notified to Spain’s securities regulator, the CNMV, alongside the board’s decision to simplify Telefónica España’s structure. The board approved the new model following a proposal from Telefónica group executive chairman Marc Murtra. Support functions will move into the corporate areas, while the Spanish business will be organised around its three commercial segments.
Europa Press and Expansión described the plan as a way to cut duplicated functions and give each unit more autonomy. Telefónica says the structure should sharpen the focus on each market and make every unit more accountable for its results.
The company also expects faster decisions and fewer duplications, along with stronger growth in the two areas it sees as having the greatest potential: businesses and residential customers.
Borja Ochoa will remain non-executive chairman of Telefónica España and lead the B2B unit. The other two units will operate independently within the new Spanish structure, but the announcement does not name their leaders.
The overhaul also extends beyond Telefónica España. El País reported that Telefónica’s board abolished the board of Movistar Plus+, while Javier de Paz left the platform’s chairmanship as part of the wider governance changes.
Telefónica plans to transfer capabilities developed in Spain to other markets. Its stated priorities include cybersecurity, cloud and defence services, as well as new B2C businesses.
Spain is being positioned as a base for digital services that Telefónica can develop and scale abroad. The company links the plan to technological autonomy in Europe and Spain's wider role in the European market. Telefónica says that concentrating expertise and removing duplicated functions will support the Spanish operation's role beyond domestic sales.
The property Telefónica sold includes the renovated Espacio Movistar and Fundación Telefónica. The group will now operate from its own campus at Ronda de la Comunicación.
The relocation is part of a wider pattern of corporate decisions that place operational efficiency alongside pressure on impressive services in Spain. An earlier report on nursing capacity illustrates that pressure in a different sector.
Telefónica wants fewer organisational layers between its Spanish business and the people responsible for each market. The three-unit model and headquarters transfer put execution speed and accountability for results at the centre of the company's Spanish strategy, while positioning Spain as a development base for services that can be scaled abroad.
