Telefónica acquires 3% share in digital services firm Indra

Even as Telefónica continued talks to sell off its UK unit O2 to Hutchison Whampoa, the Spanish telecommunications giant made a move to pick up a 3% share in Indra.

Indra is a Spanish consulting and technology multinational that claims to be a leader in both Spain and Latin America.

The acquisition of the share by Telefónica was reported to be a move to increase its presence in the digital services market.

The Spanish telecom recently confirmed that it was in exclusive talks with Hutschison Whampoa to sell off its British subsidiary O2 precisely in order to concentrate its business in the Latin American markets.