This excerpt taken from the TEF 20-F filed Apr 12, 2006.
Telefónica Móviles provides wireless services in Morocco through Medi Telecom, S.A., in which it holds a 32.18% interest and shares management responsibilities with Portugal Telecom, which also holds a 32.18% interest in Medi Telecom. Medi Telecom is also owned by local minority shareholders. Medi Telecom is one of two wireless operators in Morocco, with over 4 million customers at December 31, 2005. Medi Telecom commenced offering wireless services in Morocco in March 2000, eight months after it was awarded a GSM license covering the Moroccan national territory.
The following table presents selected statistical data relating to Telefónica Móviles investment in Medi Telecom:
This excerpt taken from the TEF 6-K filed Aug 1, 2005.
Medi Telecoms customer base ended June at over 3.4 million (+60.1% year-over-year), with net adds of 219 thousand customers in the second quarter of 2005.
Regarding financial results, revenues continue to perform well in the second quarter of 2005, with a year-over-year increase of 24% in euros in the first semester of 2005 to 187 million euros.