Telefónica, S.A. (TEF) H1 2012 Earnings Call July 26, 2012 8:00 am ET Executives María García-Legaz Ponce - Head of Investor Relations Cesareo Alierta Izuel - Executive Chairman, Chief Executive Officer and Chairman of Executive Commission Ángel Vilá Boix - General Manager of Finance and Corporate Development Julio Linares Lopez - Chief Operating Officer, Executive Director, Member of Innovation Committee and Member of Executive Commission Santiago Fernandez Valbuena - Chairman of Telefónica Latinoamérica and Director of Telefónica Latinoamérica Guillermo Ansaldo Lutz - General Manager of Global Resources Analysts Torsten Achtmann - JP Morgan Chase & Co, Research Division Luigi Minerva - HSBC, Research Division Georgios Ierodiaconou - Citigroup Inc, Research Division Mathieu Robilliard - Exane BNP Paribas, Research Division Timothy Boddy - Goldman Sachs Group Inc., Research Division Will Milner - Arete Research Services LLP Sean Johnstone Paul Marsch - Berenberg Bank, Research Division James Ratzer - New Street Research LLP James McKenzie Luis Prota - Morgan Stanley, Research Division Frederic Boulan - Nomura Securities Co. Ltd., Research Division Jonathan Dann - Barclays Capital, Research Division Stanley Martinez Jeremy A. Dellis - Jefferies & Company, Inc., Research Division PresentationOperator
Ladies and gentlemen, thank you for standing by, and welcome to Telefónica's January-June 2012 Results Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded. I would now like to turn the call over to Ms. María García-Legaz, Head of Investor Relations. Please go ahead, madam. María García-Legaz Ponce Good afternoon, ladies and gentlemen, and welcome to Telefónica's conference call to discuss January-June 2012 results. I am María García-Legaz, Head of Investor Relations.