Word: telefonica
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Dates: during 1924-1924
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...telephone system compared with the state-owned and controlled systems of Europe has often been remarked. Apparently, Spain has gotten tired of local bureaucrats, and wishes for service in the American fashion. The International Telephone & Telegraph Co., a U. S. concern, will shortly undertake through its subsidiary, the Compania Telefonica Nacional de Espafia, to construct and operate a general telephone system throughout Spain. The work will involve taking over the existing Government-owned system, as well as several private systems...
...Telefonica Nacional is a Spanish concern, run with Spanish capital. But control rests with I. T. & T., which will act as its technical and financial adviser. Spain is the first European country to abandon a state-owned system for International Telephone & Telegraph management. Yet negotiations are already under way for similar "deals" in France and Italy, and still other European countries may also fall into line...