Telefónica to open digital unit in the UK

Spanish Communiations giant Telefónica, the parent company of O2, is to restructure, which will create a new digital unit in the UK.
 
The new, Telefónica Digital, will be headquartered in London and spearheaded by Matthew Key, currently head of Telefónica Europe.
 
The London hub will initially consist of 2,500 staff and will ensure Telefónica capitalises on opportunities created by the mobile device revolution. Telefónica Digital unit will develop new applications and business models for mobile technology and build businesses around location based advertising, remote health services, mobiles as digital wallets, and SIM cards in machines such as gas meters and traffic lights
 
The company will also look at both consumer and corporate opportunities.

Initially based at the company's UK headquarters in Slough, it will eventually relocate to central London to be near the investment community, and will have research and development facilities in Spain and Latin America and regional offices in Madrid, Silicon Valley and Sao Paulo.