Eduardo Navarro: 'Telefónica is the largest Spanish and European investor in Brazil'

This is a machine translation of Telefónica' press release

Madrid, April 25, 2023. The Global Director of Corporate Affairs and Sustainability of Telefónica, Eduardo Navarro, has participated in the Spain-Brazil Business Meeting, on the occasion of the visit to Spain of the President of Brazil, Luiz Inácio Lula da Silva. Navarro has been part of the panel 'Success stories of Spanish companies in Brazil', in which he has stressed that "it is essential to create better conditions for the advancement of digitization in the country through a major review of the regulation of the sector" .

Navarro has framed this reflection in the "great wave of digitization" to which we are heading when "Telefónica has been leading the digital transformation process in Brazil for more than 20 years and is already the largest foreign, Spanish and European investor, with more than 88,500 million euros, in addition to a clear social commitment and innovative, technological and business leadership”.

For this reason, the Global Director of Corporate Affairs and Sustainability defends the need for greater public-private collaboration, since "telecommunications operators are no longer solely responsible for installing networks and digital infrastructure, but now it is a shared responsibility. Both the public sector and other digital actors have to commit and collaborate in the deployment and investments”.

In this sense, he highlighted the leadership of the Brazilian regulator, ANATEL, in presenting a public consultation on Fair Share , similar to the one launched by the European Commission last February, on digital services; use and traffic in telecommunication networks; competitive aspects, etc. in order to implement a new balanced, equitable and symmetrical regulation among all digital agents.

The Spain-Brazil Business Meeting has been organized by the Spanish Chamber of Commerce, CEOE and ApexBrasil, and Jesús Martínez, CEO Latam of Mapfre; Mario Ruiz-Tagle, CEO of Iberdrola Spain, and was moderated by Xiana Méndez Bértolo, Secretary of State for Commerce.