Telefónica transfers the headquarters of the Ecuadorian company Otecel to Madrid
Posted On 04 Jan 2017
Telefónica has decided to change its subsidiary in Ecuador. From Amsterdam to Madrid. The operator has transferred the headquarters of Ecuador Cellular Holdings BV, holder of the division´s shares in the South American country, which has become a limited company under the Spanish legal framework, reports the newspaper of that country Cinco Dias.
With this move, Telefónica continues with a relocation process of offices to strengthen the position of the Spanish capital as the headquarters of the Latin American assets of teleco and, thereby, improve the management of these subsidiaries.
Ecuador Cellular Holdings is the headquarters of Otecel, the Telefonica division in the country, which is dedicated to the mobile business. Movistar Ecuador had 4.55 million customers at the end of September, of which 4.51 million corresponded to the mobile segment.