It's not the first time consolidation has been called for by European CEOs

STC acquired a 9.9 percent stake in the Spanish telco last year

Is part of the company's push to reduce its operations in Latin America

The carrier said the filing represents its best option after failed attempts to sell unit

Follows reports from last month that Telefónica has attracted suitors for Argentinian business

Both Argentinian and foreign investors have shown an interest

José María Álvarez-Pallete leaves after nine years in the role

But talks are still ongoing

Secures voting rights as part of the deal

As Telefónica signs fiber agreement with MásOrange

WOM filed for bankruptcy earlier this year

But MásOrange still needs to sell 10 MHz of 3.5 GHz spectrum to avoid exceeding cap

Telefónica has confirmed talks are ongoing

Agreement to last for 16 years

Partnership with Autobahn GmbH will expand the carrier's 5G network

Seen as a significant step towards maximizing the potential of Industry 4.0

Saudi telco STC acquired a 9.9 percent stake last year

Might have been optimistic with its switch-off date

Won three of the four contracts up for grabs

30 MHz of spectrum in the 3.5 GHz band is up for grabs

Now owns more than five percent of telco

SEPI will eventually take 10 percent holding

Solar cells and a highly efficient fuel cell are able to generate sustainable electricity on-site

The entity will be a subsidiary of Virgin Media O2