In 2009, Telefónica plans to defend its cash flow in the markets under most economic pressure (Europe), while tapping the growth potential of expanding markets (Latin America). As a result, the Madrid-based company expects group cash flow to grow between 8%-11% in 2009. It also expects to increase both revenues and operating income (before depreciation and amortisation) between 1% and 3%, while keeping capital spending under 7.5 billion euros compared with 8.4 billion euros in 2008.
By the end of 2008, the number of 3G handsets held by Telefonica's customers in Spain was more than 6.2 million, an 80% increase on December 2007, (reaching a penetration rate of 27% of the customer base).- source: Telefonica statement.
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