New Street: TEF (Buy, TP: EUR5.0, +20%) Telefonica - Long Summer in Spanish football
Rumours continue around the next step for La Liga football rights in Spain (starting from the 2022/23 season). First it was Amazon taking a slice of the action, next a direct-to-consumer offer from La Liga is being suggested (El Confidencial), suggesting a challenge to Telefonica's current model.
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