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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Telefonica to launch low cost mobile operator: report AFP - Saturday, November 20 Send IM Story Print Telefonica to launch low cost mobile operator: report Slideshow: Full Photo Coverage: Internet Portals & Search Engines MADRID (AFP) - – Spanish telecoms giant Telefonica will launch a low cost mobile virtual network operator in the coming weeks through the social networking site Tuenti which it bought in August, a newspaper reported Friday. The operator will provide calls at a cost of four euro cents a minute between its customers and eight euro cents a minute for calls to all other operators, daily business newspaper Expansion reported. Virtual mobile network operators provide cell phone services without having their own network and the new service, which will be called Tuentimovil, will use Telefonica's network, it added. Telefonica bought 86 percent of Tuenti, a Spanish social networking site similar to Facebook which has nearly eight million members, mostly between the ages of 14 and 20, in August for around 75 million euros (102 million dollars). The launch of the service marks Telefonica's effort to tap into the exponential growth of the social media phenomenon at a time when its revenues from its mobile services in Spain, which is struggling with an unemployment rate of about 20 percent, are falling. Telefonica's sales in its domestic market Spain fell 3.6 percent to 4.72 billion euros in the third quarter over the same time last year. Domestic wireless service revenue slumped 7.9 percent, compared with a 5.7 percent decline in the second quarter. Recommend Send IM Story Print Related Articles US-TECH Summary Reuters - 42 minutes ago Pentagon "aware" of China Internet rerouting Reuters - 1 hour 24 minutes ago Amazon lets gift-givers send Kindle books by email AFP - 1 hour 35 minutes ago Google agrees to delete Street View data in Britain AFP - Saturday, November 20 Azerbaijan frees second opposition blogger: lawyer AFP - Saturday, November 20 News Search Top Stories 9/11 rescuers agree 625 million dollars damages: insurer WHO seeks regulation of flavored tobacco Brazilians flaunt Kate's engagement ring, for 3 dlrs Suspected Germany-bound bomb was 'security test' Disgraced Oceania FIFA official to appeal 'harsh' ban More Top Stories » Related Full Coverage Internet Portals & Search EnginesLatest development in the online world All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Warner Bros scrambles to pull online Harry Potter clip Astronomers find first planet from another galaxy 'Asian unicorn' and scaly anteater make endangered list 'Devastated' Eva Longoria files for divorce Prince William's wedding to fit austere times in Britain More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid 'Naked' airport scanners may be 'dangerous' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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