Telefonica of Madrid, one of the world's largest telecoms companies, said that it expects its group revenues to grow up to 2% in 2011. It also plans to increase capex to about 9 billion euros in 2011 from 8.54 billion euros in 2010.
In 2010, Telefonica's revenue grew 2.4% on a like-for-like basis to 60.74 billion euros, lifted by 2.7% organic growth in Latin America and a 19.3% increase in mobile data revenues to 9.3 billion euros. source: Telefonica statement
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