International. During the last months the telecommunications company Telefónica, has completed the sale of five buildings of its property and has on the market four other buildings in the cities of Madrid and Barcelona, Spain. As a result of these operations, Telefónica has entered about US$73 million and expects to add another US$68 million to this figure with the sale of the remaining real estate assets.
The main reason behind the decision of the telecommunications company is that its future projections of the market indicate that within 10 years the technological evolution and the migration from analog to digital, will lead them not to need these buildings that today have as their primary focus the commercialization of services with a tendency to disappear.
However, and while this transition takes place, the company will remain as a tenant of the properties sold for a period of between 7 and 10 years, once the lease is over, the new owners will be able to dispose of the property freely.
