LatAm bolsters Telefonica revenues

A strong performance in Latin America has helped Spanish incumbent Telefónica drive revenues of €28.56bn for the first half of 2013, although that figure is down 7.8 per cent year on year. Latin America now accounts for 51.4 per cent of the firm’s consolidated revenues, with regional revenue growing at 10.4 per cent for the second quarter year on year. But currency volatility in the region had a negative impact on OIBDA margin, the firm said.