Telefonica, Moviles win 74.3 mln eur contract from Spain’s Correos

Telefonica SA and Telefonica Moviles SA have won a contract worth 74.3 mln eur from Spain’s state-owned postal operator Correos y Telegrafos to modernize and manage the company’s telephone and internet system, El Pais reported, without citing a source.

The two companies will take 8 months to install the new system which they will manage for four years, the newspaper said.

Of the total investment, 60.4 mln eur will be earmarked for data, voice and internet services while the rest will be for the mobile telephony contract.