Telefónica CEO on Trial
Today, the Madrid court decided that Alierta, along with his nephew, Luis Placer, will indeed go on trial for the alleged insider trading that occurred 12 years ago. The trial will start on Thursday. State prosecutors are asking for a four-and-a-half-year prison term for Alierta and a four-year sentence for Placer.
While the case has nothing to do with Telefónica, the operator's top exec is likely to be a bit distracted for the next few weeks. (See Telefónica Slashes Capex by 10%.) — Michelle Donegan, European Editor, Light Reading