But how did we get here The arrival of

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The Saudis is a wake-up call for the entire EU: the blocs are already dealing cards In July of this same year, analysts Judith Arnal and Raquel Jorge published an article by the Elcano Royal Institute in which they outlined the causes—and potential consequences—of the weakness of European telecom companies. The analysis, which you can consult here , also included a series of proposals with which the European Union could address those weaknesses and address those pending challenges. To understand the strategic importance of Telefónica's ownership, it is crucial to take into account that telecommunications infrastructure is a "fundamental element for the strategic autonomy" of the European Union , Arnal and Jorge recall.

The European Association of Telecommunications Operators sees a financing deficit in the sector of up to 174 billion euros between now and 2030. It is a huge problem considering that it is a sector in which it will be more necessary to have "more volume, speed and Iceland Phone Number List capacity" in infrastructure. Hence, in recent years, debates have arisen around the fair share or fair contribution, a mechanism that the European Union opened up to debate months ago but for which we will finally have to wait for what happens after the European elections in 2024. Telefónica is moving forward with its virtualized networks and Open RAN, but its future leadership has risks: it may collide with a stagnant market This fair contribution is nothing.



More than a call to large technology companies, such as Google, Amazon or Meta, to also participate in the cost involved in investing in new networks. Precisely, the fact that STC appeared in September in Telefónica just a month and a half after Arnal and Jorge published their analysis is something that surprised the authors. Firstly, because of the depth of the operation. Secondly, for the early confirmation of his warnings. And thirdly, for the actor. "Traditionally, Saudi Arabia has been a partner of the US. In recent times things have begun to turn. Saudi Arabia is divesting a lot of US public debt. It has just acceded to the BRICS. It is no longer the traditional ally of the US," granted to Arnal in an interview with Business Insider Spain weeks ago. In that interview, Arnal called for prudence, but not naivety: these purchases can be friendly.