Telefonica contribute 2.6 percent to Balearic GDP

IN 2005 the Telefonica Group contributed 2.6 percent to the Gross Domestic Product (GDP) of the Balearics, where it has 680 people who work directly for the Group's companies on the islands, to which must be added the 1'140 who work for them indirectly. The Group says that through its business it has made a commitment to being an “important motor for economic, technological and social development on the islands”. According to a list of its achievements in the Balearics, the group says that, at the end of December 2005 it had more than 400'000 telephone landlines, around 115'000 ADSL lines, 5'400 Imagenio clients and more than 460'000 mobile telephone customers. All these clients are dealt with in more than 30 shops situated in the main towns on the islands and more than two hundred points of sale for Telefonica Movistar, according to the Group, who said that its companies paid more than 30 million euros in tax in 2004. During 2005, the Telefonica Group invested more than 50 million euros. During the period 2000 to 2005, Telefonica España made investments in the islands of over 220 million euros. For its part, Telefonica Moviles España invested around 210 million euros in infrastructures in the Balearics up to December 2005.