Telefonica , Europe's largest telecoms firm by market value, continued to lose market share in its home country Spain in May as cash-strapped customers shopped around for cheaper telecoms.
Telefonica, which dominates the mobile market, saw its share in May slip to 41.23 percent from 41.34 percent, as did number 2 player Vodafone which fell to 28.36 percent from 28.6, the latest data from the Telecoms Market Commission showed on Tuesday.
Telefonica has been shedding clients in droves at home as unemployment of 21 percent makes customers particularly price sensitive and sends them to cheaper operators such as TeliaSonera's Yoigo, whose customers increased by 51,600 overall.
Telefonica is to cut more than 20 percent of its Spanish staff in an attempt to reduce its cost base and allow it to compete more fiercely.
Yoigo now has a market share of 4.64 percent, up from 4.56 percent.
Virtual operators, which offer customers mobile services using the networks of Spain's main mobile operators, also grew share to 5.62 percent in May from 5.26 a month earlier.
Telefonica also shed market share in the broadband internet market in May, dropping to 51.35 percent versus 51.70 percent in April
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