Telefonica has outlined a five-year plan to become an ‘Online Telco’, under the new slogan ‘We choose it all’. Executive chairman Cesar Alierta presented the plan, which is comparable to Orange’s Essentials 2020, at the firm’s Madrid headquarters, and his address was streamed to all 125,000 employees across 20 countries in Europe and Latin America. The plan is based on six foundations. Three relate to Telefonica’s value proposition – outstanding connectivity, integrated or multiplay offerings, and a differentiated user experience. The other three are ‘facilitators’ of new digital services and strategies and consist of big data and innovation, end-to-end digitalisation, and capital allocation and simplification. Telefonica has many pressures – a huge debt load, the ongoing economic slowdown in southern…