Pablo Ledesmacurrent Director of Operations at Telefónica, will assume the position of CEO in the fiber optic joint venture that will be established by Telefónica and Vodafone Spain. The appointment has been advanced by Expansionwhile sources close to the situation have confirmed this news to Europa Press.
In November of last year, Telefónica and Vodafone Spain agreed to create a joint venture to promote the deployment of fiber optics in the Spanish market. In this association, Telefónica will have majority control with 63%, while Vodafone Spain will own the remaining 37%.
A third investor is being sought to acquire around 40% of the new company. The objective is for Telefónica to maintain its control position with a significant percentage, while Vodafone Spain will retain the remaining 10%.
Pablo Ledesma has a 25-year career at Telefónica, holding various positions in the company. Since 2018, he has served as Director of Operations at the company.
The new joint venture between Telefónica and Vodafone Spain is expected to reach an EBITDA of €125 million three years after its creation.