Posted Mar 1, 2012 8:39 UTC (Thu) by man_ls (subscriber, #15091)
[Link]
Telefónica is a multinational company with headquarters in Spain. Business is primarily done in Europe and Latin America. The most accurate description would certainly be "a Spanish company". Otherwise you might as well say that Google is "a European company".
By the way, Telefónica Digital is not a carrier; it is an internet business owned by Telefónica with interests primarily in Spain, headquartered in London. R&D for the Open Web Device was also done in Spain.
Disclaimer: I own a few Telefónica shares in my ruinous portfolio.