Telefonica sees signs of turnaround in Spanish business

MADRID (Reuters) - Telecoms group Telefonica expects see an uptick in clients and revenues soon in Spain, which would mark the start of a turnaround in its weak home market. "We aren't on the path to growth yet but we are close to reversing the trend in clients and revenues," said Luis Miguel Gilperez, head of Telefonica's Spanish division, said at a news conference on Wednesday. Spain's economy has been in and out of a recession since a housing bubble burst five years ago, causing the unemployment rate to soar to more than 25 percent and shattering consumer confidence. ...

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