On Thursday, the Deutsche Telekom AG announced its second-quarter financial report. It has been reported that in the second quarter, the company’s operating profit fell down by 8% to EUR3.79 billion. The Company has blamed 3.3% drop in its sale, as the main reason for drop in its second quarter profit.

Spain's auction of mobile telecoms radio frequencies hosted 1.65 billion Euros, gliding way over the minimum 1.453 billion euro price laid down by the government.

Spain's leading mobile operators, including Vodafone, Telefonica, and France Telecom's Orange tear precious additional radio frequencies, which was essential in order to help them meet the increasing demand for data use on smartphones and tablets.

It has been revealed according to recent reports that the shares in the Mobile operating firm Vodafone have rallied in the recent times. This has come as a reaction of the announcement it made according to the joint venture with Verizon Wireless that they would pay the first dividend. With the debt ceiling raising in US it was becoming exceedingly difficult for many firms to keep up with the competency of the market.

According to the recent developments in the earnings made by Telefonica, the leading telecom firm in Spain, the net profits of the firm have gone down by a tremendous 16.2% in the first half of the year to 3.162 billion Euros now.

According to reports, for the second quarter, Vodafone, a telecom operator has experienced a 3.5% increase in revenues to $18.8 billion, though the company does not release its quarterly profit figures.

Also, India and Turkey is said to be at +16,8% and +13.1% respectively, along with Vodacom at +7.8%, which represented a major service revenue growth , while at +0.2% Germany and UK at +1.7% added to Vodafone’s strong performance.

Spain is now all set to start the wireless-spectrum auction today that aims at raising 2 billion Euros so that the government can further cope up with euro area’s largest budget deficit which Spain is confronting by now, which has apparently spurred the government to cut spending. It is for the first time that the Spain is going to begin with such an auction of mobile telecom licenses that will consider internet contest and possibly will generate more than 1.45 billion Euros to deal with largest budget deficit.

Telefonica, Spain's major telecommunications group, has recently announced that it will embark on a road show with the international institutional investors of Portugal Telecom to convince them of the benefits of selling PT's equity stake in Brazilian mobile operator Vivo to Telefonica.

In the meantime, the company has also offered EUR5.7 billion for PT’s 50 percent in Vivo, in which it has the other 50 percent, a premium of 145 percent to Vivo’s average market value prior to the bid which PT refused, saying that the stake was strategic to PT’s long term growth.

According to latest news, Telefonica Spain has announced that it has selected Nokia Siemens Networks for the up gradation of its 3G radio network to HSPA+.

The idea is for the preparation for the next generation of mobile communications. Moreover, it will be a three years project, and the data download speeds of Telefonica Spain will increase from 7.2 Mbps to 42 Mbps.

Telefonica TEF had announced last year's results that were normally in line with the company's estimations, and the company won't be changing its fair value estimate.

The report showed fall of 2.1 percent year over year against their expectation of a decline of 1.7 percent.

Excluding negative currency movements, profit would have been raised by 0.2 percent.

In spite of the weak economy, the company raised its subscribers 5.1 percent to 265 million accesses.

Spain’s Telefonica has announced that it has acquired Jajah for 145 million euros (US$207 million). Jajah is a provider of Internet-based phones service with headquarters in the United States and Israel.

According to the statement issued by the former state monopoly, the all cash deal is subject to approval by Spain’s antitrust authorities.

Jajah will allow its customers to make free calls between its customers over the Internet or very cheap calls to the fixed-line as well as mobile numbers.