MADRID (Reuters) - Telefonica retained its grip on Spain’s lucrative fiber optic market in October, data showed on Monday, days after the Spanish regulator warned it could force the former telephone monopoly to open up its next-generation network to competitors.
Telefonica added 91,264 contracts in the fast-growing fiber optic business in October to reach a total of 1.16 million, according to data released by Spain’s telecoms watchdog, putting its market share at 86 percent.
Last week, the competition watchdog CNMC proposed new rules that would require Telefonica to open up its fiber optic network in all of Spain apart from nine cities, to ensure competition and promote investment in next-generation access networks.
Meanwhile, Telefonica shed mobile clients in its Spanish home market in October for the 42nd consecutive month, putting its share of the mobile market at a historic low of 31.9 percent.
Reporting by Robert Hetz, writing by Tracy Rucinski; Editing by Julien Toyer