Murtra elimina el consejo de Movistar Plus que presidía Javier de Paz

On Wednesday, Telefónica approved the restructuring of its Spanish subsidiary, creating three independent commercial business units - B2B (businesses), B2C (consumers) and a wholesale division - and dissolving the board of directors of its pay-TV platform, Movistar Plus. The change, proposed by Telefónica's chief executive, Marc Murtra, aims to streamline the corporate structure, eliminate redundancies and streamline decision-making processes within the company.

The board unanimously approved the move to relocate the company's headquarters from its historic building on Gran Vía, number 28, to Ronda de la Comunicación in the Madrid neighborhood of Las Tablas. This decision involves amending Article 3.1 of the company's statutes of association to officially establish the new address in the Central Building of Telefónica, an operational campus of the group since 2006.

The move formalizes the sale of the property, which concluded on Tuesday when it was sold to real estate entrepreneur Tomás Olivo for 200 million euros, as reported by EL PAÍS/Cinco Días. The final agreement was formalized on September 1, concluding a sale process that began at the end of last year under the guidance of investment bank Rothschild.

The divestiture of the Gran Vía property, constructed between 1926 and 1929, is part of Telefónica's operational efficiency plan to reduce debt and optimize costs. With this move, Telefónica consolidates its corporate structure in the 200,000 square meter complex in Las Tablas, while the corporate foundation and its exhibition spaces temporarily maintain their activities in the historic building in Madrid.