Competition easing in Spain’s cut-throat telco market, Telefonica says

PARIS: The heavy discounts seen in Spain’s telecoms market have become less generous in the fourth quarter, Telefonica’s chief operating officer said on Wednesday, in a sign industry margins may improve in the final months of the year.

The country’s biggest telecoms operator, which posted a loss in the third quarter, has lost 40% of its market value since the start of the year and has pledged to return to revenue growth in 2022.