Industry sources suggest this week that Spanish telecoms giant Telefonica has called time on its relationship with FutureBrand.
Telefonica has approached several groups to pitch for its business, but details of the process or the extent of the brief have not been confirmed.
FutureBrand has been invited to re-pitch.
The business was managed by the group’s New York office and FutureBrand USA president and chief creative officer Claude Salzberger says, ‘Telefonica is facing new challenges to its business and is considering using a different agency in order to get a different perspective and approach to extending its brand.’
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