Telefonica Is Said to Weigh Revamp of Its Technology Unit

Telefonica SA is drafting plans to revamp its technology business, as part of a broader strategic review of Spain’s largest carrier, according to people familiar with the matter.

Several executives are unhappy with the performance and contribution of the Telefonica Tech unit, which offers cybersecurity, cloud, AI and other services to businesses, said the people, who asked not to be identified because the discussions aren’t public. Chairman Marc Murtra, who joined in January, is unimpressed with the unit, two of the people said.