Young Spain Rattles at Gates of Power as Old Guard Fades Away

  • Telefonica's Alierta, a symbol of the establishment, retires
  • New party leaders have until May 2 to decide on end of Rajoy

As Cesar Alierta retires as chairman of former phone monopoly Telefonica SA, his departure marks another loss for an elite that traces its power to the dawn of democracy in Spain. 

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