Alex Webb, Columnist

When Digitization Isn't The Answer to Your Prayers

Telefonica is doing all the right things to get ready for 5G. Shareholders will still need to be patient.

May 10, 2019 at 1:28 PM UTC

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

Benefiting from 5G won’t be a piece of cake.
Photographer: Giulia Marchi/Bloomberg

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For all the promise that digitization offers, sometimes it’s worth reminding ourselves that it requires the right conditions.

Telefonica SA is illustrating why. The former Spanish national carrier is midway through a digital transformation program, and has succeeded in realizing almost two thirds of the 1 billion euros ($1.1 billion) in savings it’s targeting by the end of next year.