CINXE.COM

<!doctype html><html lang="en"><head><link rel="preconnect" href="https://cdn.cookielaw.org"> <script async type="text/javascript" src="https://cdn.cookielaw.org/consent/6d7806d2-acd5-45a3-87bd-1c45d9f1bf3b/OtAutoBlock.js" ></script> <script defer src="https://cdn.cookielaw.org/scripttemplates/otSDKStub.js" data-document-language="true" type="text/javascript" charset="UTF-8" data-domain-script="6d7806d2-acd5-45a3-87bd-1c45d9f1bf3b" ></script> <script type="text/javascript">function OptanonWrapper() { window.dataLayer.push({ event: 'OneTrustGroupsUpdated' }); }</script> <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-NQBGG6');</script> <script type="text/plain" class="optanon-category-C0002">document.body.classList.add("cookie-2");</script> <script type="text/plain" class="optanon-category-C0003-C0005">document.body.classList.add("cookie-35");</script> <script type="text/plain" class="optanon-category-C0002-C0004">document.body.classList.add("cookie-24");</script> <script type="text/plain" class="optanon-category-C0003-C0004-C0005">document.body.classList.add("cookie-345");</script> <script>dataLayer.push({'navegacion': {'dominio': 'www.telefonica.com','lengua': 'English', 'seccion': 'shareholders-investors','subseccion': 'corporate-governance','pageName': '/en/shareholders-investors/corporate-governance/policies/'},'contenido': {} });</script> <meta charset="UTF-8"><script type="text/javascript">(window.NREUM||(NREUM={})).init={ajax:{deny_list:["bam.nr-data.net"]}};(window.NREUM||(NREUM={})).loader_config={licenseKey:"47bac1bdd1",applicationID:"361668846"};;/*! For license information please see nr-loader-rum-1.274.0.min.js.LICENSE.txt */ (()=>{var e,t,r={8122:(e,t,r)=>{"use strict";r.d(t,{a:()=>i});var n=r(944);function i(e,t){try{if(!e||"object"!=typeof e)return(0,n.R)(3);if(!t||"object"!=typeof t)return(0,n.R)(4);const r=Object.create(Object.getPrototypeOf(t),Object.getOwnPropertyDescriptors(t)),o=0===Object.keys(r).length?e:r;for(let a in o)if(void 0!==e[a])try{if(null===e[a]){r[a]=null;continue}Array.isArray(e[a])&&Array.isArray(t[a])?r[a]=Array.from(new Set([...e[a],...t[a]])):"object"==typeof e[a]&&"object"==typeof t[a]?r[a]=i(e[a],t[a]):r[a]=e[a]}catch(e){(0,n.R)(1,e)}return r}catch(e){(0,n.R)(2,e)}}},2555:(e,t,r)=>{"use strict";r.d(t,{Vp:()=>c,fn:()=>s,x1:()=>u});var n=r(384),i=r(8122);const o={beacon:n.NT.beacon,errorBeacon:n.NT.errorBeacon,licenseKey:void 0,applicationID:void 0,sa:void 0,queueTime:void 0,applicationTime:void 0,ttGuid:void 0,user:void 0,account:void 0,product:void 0,extra:void 0,jsAttributes:{},userAttributes:void 0,atts:void 0,transactionName:void 0,tNamePlain:void 0},a={};function s(e){try{const t=c(e);return!!t.licenseKey&&!!t.errorBeacon&&!!t.applicationID}catch(e){return!1}}function c(e){if(!e)throw new Error("All info objects require an agent identifier!");if(!a[e])throw new Error("Info for ".concat(e," was never set"));return a[e]}function u(e,t){if(!e)throw new Error("All info objects require an agent identifier!");a[e]=(0,i.a)(t,o);const r=(0,n.nY)(e);r&&(r.info=a[e])}},9417:(e,t,r)=>{"use strict";r.d(t,{D0:()=>g,gD:()=>h,xN:()=>p});var n=r(993);const i=e=>{if(!e||"string"!=typeof e)return!1;try{document.createDocumentFragment().querySelector(e)}catch{return!1}return!0};var o=r(2614),a=r(944),s=r(384),c=r(8122);const u="[data-nr-mask]",d=()=>{const e={mask_selector:"*",block_selector:"[data-nr-block]",mask_input_options:{color:!1,date:!1,"datetime-local":!1,email:!1,month:!1,number:!1,range:!1,search:!1,tel:!1,text:!1,time:!1,url:!1,week:!1,textarea:!1,select:!1,password:!0}};return{ajax:{deny_list:void 0,block_internal:!0,enabled:!0,harvestTimeSeconds:10,autoStart:!0},distributed_tracing:{enabled:void 0,exclude_newrelic_header:void 0,cors_use_newrelic_header:void 0,cors_use_tracecontext_headers:void 0,allowed_origins:void 0},feature_flags:[],generic_events:{enabled:!0,harvestTimeSeconds:30,autoStart:!0},harvest:{tooManyRequestsDelay:60},jserrors:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},logging:{enabled:!0,harvestTimeSeconds:10,autoStart:!0,level:n.p_.INFO},metrics:{enabled:!0,autoStart:!0},obfuscate:void 0,page_action:{enabled:!0},page_view_event:{enabled:!0,autoStart:!0},page_view_timing:{enabled:!0,harvestTimeSeconds:30,autoStart:!0},performance:{capture_marks:!1,capture_measures:!1},privacy:{cookies_enabled:!0},proxy:{assets:void 0,beacon:void 0},session:{expiresMs:o.wk,inactiveMs:o.BB},session_replay:{autoStart:!0,enabled:!1,harvestTimeSeconds:60,preload:!1,sampling_rate:10,error_sampling_rate:100,collect_fonts:!1,inline_images:!1,fix_stylesheets:!0,mask_all_inputs:!0,get mask_text_selector(){return e.mask_selector},set mask_text_selector(t){i(t)?e.mask_selector="".concat(t,",").concat(u):""===t||null===t?e.mask_selector=u:(0,a.R)(5,t)},get block_class(){return"nr-block"},get ignore_class(){return"nr-ignore"},get mask_text_class(){return"nr-mask"},get block_selector(){return e.block_selector},set block_selector(t){i(t)?e.block_selector+=",".concat(t):""!==t&&(0,a.R)(6,t)},get mask_input_options(){return e.mask_input_options},set mask_input_options(t){t&&"object"==typeof t?e.mask_input_options={...t,password:!0}:(0,a.R)(7,t)}},session_trace:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},soft_navigations:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},spa:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},ssl:void 0,user_actions:{enabled:!0}}},l={},f="All configuration objects require an agent identifier!";function g(e){if(!e)throw new Error(f);if(!l[e])throw new Error("Configuration for ".concat(e," was never set"));return l[e]}function p(e,t){if(!e)throw new Error(f);l[e]=(0,c.a)(t,d());const r=(0,s.nY)(e);r&&(r.init=l[e])}function h(e,t){if(!e)throw new Error(f);var r=g(e);if(r){for(var n=t.split("."),i=0;i<n.length-1;i++)if("object"!=typeof(r=r[n[i]]))return;r=r[n[n.length-1]]}return r}},3371:(e,t,r)=>{"use strict";r.d(t,{V:()=>f,f:()=>l});var n=r(8122),i=r(384),o=r(6154),a=r(9324);let s=0;const c={buildEnv:a.F3,distMethod:a.Xs,version:a.xv,originTime:o.WN},u={customTransaction:void 0,disabled:!1,isolatedBacklog:!1,loaderType:void 0,maxBytes:3e4,onerror:void 0,ptid:void 0,releaseIds:{},appMetadata:{},session:void 0,denyList:void 0,timeKeeper:void 0,obfuscator:void 0},d={};function l(e){if(!e)throw new Error("All runtime objects require an agent identifier!");if(!d[e])throw new Error("Runtime for ".concat(e," was never set"));return d[e]}function f(e,t){if(!e)throw new Error("All runtime objects require an agent identifier!");d[e]={...(0,n.a)(t,u),...c},Object.hasOwnProperty.call(d[e],"harvestCount")||Object.defineProperty(d[e],"harvestCount",{get:()=>++s});const r=(0,i.nY)(e);r&&(r.runtime=d[e])}},9324:(e,t,r)=>{"use strict";r.d(t,{F3:()=>i,Xs:()=>o,xv:()=>n});const n="1.274.0",i="PROD",o="CDN"},6154:(e,t,r)=>{"use strict";r.d(t,{OF:()=>c,RI:()=>i,WN:()=>d,bv:()=>o,gm:()=>a,mw:()=>s,sb:()=>u});var n=r(1863);const i="undefined"!=typeof window&&!!window.document,o="undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self.navigator instanceof WorkerNavigator||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis.navigator instanceof WorkerNavigator),a=i?window:"undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis),s=Boolean("hidden"===a?.document?.visibilityState),c=/iPad|iPhone|iPod/.test(a.navigator?.userAgent),u=c&&"undefined"==typeof SharedWorker,d=((()=>{const e=a.navigator?.userAgent?.match(/Firefox[/\s](\d+\.\d+)/);Array.isArray(e)&&e.length>=2&&e[1]})(),Date.now()-(0,n.t)())},1687:(e,t,r)=>{"use strict";r.d(t,{Ak:()=>c,Ze:()=>l,x3:()=>u});var n=r(7836),i=r(3606),o=r(860),a=r(2646);const s={};function c(e,t){const r={staged:!1,priority:o.P3[t]||0};d(e),s[e].get(t)||s[e].set(t,r)}function u(e,t){e&&s[e]&&(s[e].get(t)&&s[e].delete(t),g(e,t,!1),s[e].size&&f(e))}function d(e){if(!e)throw new Error("agentIdentifier required");s[e]||(s[e]=new Map)}function l(e="",t="feature",r=!1){if(d(e),!e||!s[e].get(t)||r)return g(e,t);s[e].get(t).staged=!0,f(e)}function f(e){const t=Array.from(s[e]);t.every((([e,t])=>t.staged))&&(t.sort(((e,t)=>e[1].priority-t[1].priority)),t.forEach((([t])=>{s[e].delete(t),g(e,t)})))}function g(e,t,r=!0){const o=e?n.ee.get(e):n.ee,s=i.i.handlers;if(!o.aborted&&o.backlog&&s){if(r){const e=o.backlog[t],r=s[t];if(r){for(let t=0;e&&t<e.length;++t)p(e[t],r);Object.entries(r).forEach((([e,t])=>{Object.values(t||{}).forEach((t=>{t[0]?.on&&t[0]?.context()instanceof a.y&&t[0].on(e,t[1])}))}))}}o.isolatedBacklog||delete s[t],o.backlog[t]=null,o.emit("drain-"+t,[])}}function p(e,t){var r=e[1];Object.values(t[r]||{}).forEach((t=>{var r=e[0];if(t[0]===r){var n=t[1],i=e[3],o=e[2];n.apply(i,o)}}))}},7836:(e,t,r)=>{"use strict";r.d(t,{P:()=>c,ee:()=>u});var n=r(384),i=r(8990),o=r(3371),a=r(2646),s=r(5607);const c="nr@context:".concat(s.W),u=function e(t,r){var n={},s={},d={},l=!1;try{l=16===r.length&&(0,o.f)(r).isolatedBacklog}catch(e){}var f={on:p,addEventListener:p,removeEventListener:function(e,t){var r=n[e];if(!r)return;for(var i=0;i<r.length;i++)r[i]===t&&r.splice(i,1)},emit:function(e,r,n,i,o){!1!==o&&(o=!0);if(u.aborted&&!i)return;t&&o&&t.emit(e,r,n);for(var a=g(n),c=h(e),d=c.length,l=0;l<d;l++)c[l].apply(a,r);var p=m()[s[e]];p&&p.push([f,e,r,a]);return a},get:v,listeners:h,context:g,buffer:function(e,t){const r=m();if(t=t||"feature",f.aborted)return;Object.entries(e||{}).forEach((([e,n])=>{s[n]=t,t in r||(r[t]=[])}))},abort:function(){f._aborted=!0,Object.keys(f.backlog).forEach((e=>{delete f.backlog[e]}))},isBuffering:function(e){return!!m()[s[e]]},debugId:r,backlog:l?{}:t&&"object"==typeof t.backlog?t.backlog:{},isolatedBacklog:l};return Object.defineProperty(f,"aborted",{get:()=>{let e=f._aborted||!1;return e||(t&&(e=t.aborted),e)}}),f;function g(e){return e&&e instanceof a.y?e:e?(0,i.I)(e,c,(()=>new a.y(c))):new a.y(c)}function p(e,t){n[e]=h(e).concat(t)}function h(e){return n[e]||[]}function v(t){return d[t]=d[t]||e(f,t)}function m(){return f.backlog}}(void 0,"globalEE"),d=(0,n.Zm)();d.ee||(d.ee=u)},2646:(e,t,r)=>{"use strict";r.d(t,{y:()=>n});class n{constructor(e){this.contextId=e}}},9908:(e,t,r)=>{"use strict";r.d(t,{d:()=>n,p:()=>i});var n=r(7836).ee.get("handle");function i(e,t,r,i,o){o?(o.buffer([e],i),o.emit(e,t,r)):(n.buffer([e],i),n.emit(e,t,r))}},3606:(e,t,r)=>{"use strict";r.d(t,{i:()=>o});var n=r(9908);o.on=a;var i=o.handlers={};function o(e,t,r,o){a(o||n.d,i,e,t,r)}function a(e,t,r,i,o){o||(o="feature"),e||(e=n.d);var a=t[o]=t[o]||{};(a[r]=a[r]||[]).push([e,i])}},3878:(e,t,r)=>{"use strict";function n(e,t){return{capture:e,passive:!1,signal:t}}function i(e,t,r=!1,i){window.addEventListener(e,t,n(r,i))}function o(e,t,r=!1,i){document.addEventListener(e,t,n(r,i))}r.d(t,{DD:()=>o,jT:()=>n,sp:()=>i})},5607:(e,t,r)=>{"use strict";r.d(t,{W:()=>n});const n=(0,r(9566).bz)()},9566:(e,t,r)=>{"use strict";r.d(t,{LA:()=>s,bz:()=>a});var n=r(6154);const i="xxxxxxxx-xxxx-4xxx-yxxx-xxxxxxxxxxxx";function o(e,t){return e?15&e[t]:16*Math.random()|0}function a(){const e=n.gm?.crypto||n.gm?.msCrypto;let t,r=0;return e&&e.getRandomValues&&(t=e.getRandomValues(new Uint8Array(30))),i.split("").map((e=>"x"===e?o(t,r++).toString(16):"y"===e?(3&o()|8).toString(16):e)).join("")}function s(e){const t=n.gm?.crypto||n.gm?.msCrypto;let r,i=0;t&&t.getRandomValues&&(r=t.getRandomValues(new Uint8Array(e)));const a=[];for(var s=0;s<e;s++)a.push(o(r,i++).toString(16));return a.join("")}},2614:(e,t,r)=>{"use strict";r.d(t,{BB:()=>a,H3:()=>n,g:()=>u,iL:()=>c,tS:()=>s,uh:()=>i,wk:()=>o});const n="NRBA",i="SESSION",o=144e5,a=18e5,s={STARTED:"session-started",PAUSE:"session-pause",RESET:"session-reset",RESUME:"session-resume",UPDATE:"session-update"},c={SAME_TAB:"same-tab",CROSS_TAB:"cross-tab"},u={OFF:0,FULL:1,ERROR:2}},1863:(e,t,r)=>{"use strict";function n(){return Math.floor(performance.now())}r.d(t,{t:()=>n})},944:(e,t,r)=>{"use strict";function n(e,t){"function"==typeof console.debug&&console.debug("New Relic Warning: https://github.com/newrelic/newrelic-browser-agent/blob/main/docs/warning-codes.md#".concat(e),t)}r.d(t,{R:()=>n})},5284:(e,t,r)=>{"use strict";r.d(t,{t:()=>c,B:()=>s});var n=r(7836),i=r(6154);const o="newrelic";const a=new Set,s={};function c(e,t){const r=n.ee.get(t);s[t]??={},e&&"object"==typeof e&&(a.has(t)||(r.emit("rumresp",[e]),s[t]=e,a.add(t),function(e={}){try{i.gm.dispatchEvent(new CustomEvent(o,{detail:e}))}catch(e){}}({loaded:!0})))}},8990:(e,t,r)=>{"use strict";r.d(t,{I:()=>i});var n=Object.prototype.hasOwnProperty;function i(e,t,r){if(n.call(e,t))return e[t];var i=r();if(Object.defineProperty&&Object.keys)try{return Object.defineProperty(e,t,{value:i,writable:!0,enumerable:!1}),i}catch(e){}return e[t]=i,i}},6389:(e,t,r)=>{"use strict";function n(e,t=500,r={}){const n=r?.leading||!1;let i;return(...r)=>{n&&void 0===i&&(e.apply(this,r),i=setTimeout((()=>{i=clearTimeout(i)}),t)),n||(clearTimeout(i),i=setTimeout((()=>{e.apply(this,r)}),t))}}function i(e){let t=!1;return(...r)=>{t||(t=!0,e.apply(this,r))}}r.d(t,{J:()=>i,s:()=>n})},5289:(e,t,r)=>{"use strict";r.d(t,{GG:()=>o,sB:()=>a});var n=r(3878);function i(){return"undefined"==typeof document||"complete"===document.readyState}function o(e,t){if(i())return e();(0,n.sp)("load",e,t)}function a(e){if(i())return e();(0,n.DD)("DOMContentLoaded",e)}},384:(e,t,r)=>{"use strict";r.d(t,{NT:()=>o,US:()=>d,Zm:()=>a,bQ:()=>c,dV:()=>s,nY:()=>u,pV:()=>l});var n=r(6154),i=r(1863);const o={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net"};function a(){return n.gm.NREUM||(n.gm.NREUM={}),void 0===n.gm.newrelic&&(n.gm.newrelic=n.gm.NREUM),n.gm.NREUM}function s(){let e=a();return e.o||(e.o={ST:n.gm.setTimeout,SI:n.gm.setImmediate,CT:n.gm.clearTimeout,XHR:n.gm.XMLHttpRequest,REQ:n.gm.Request,EV:n.gm.Event,PR:n.gm.Promise,MO:n.gm.MutationObserver,FETCH:n.gm.fetch,WS:n.gm.WebSocket}),e}function c(e,t){let r=a();r.initializedAgents??={},t.initializedAt={ms:(0,i.t)(),date:new Date},r.initializedAgents[e]=t}function u(e){let t=a();return t.initializedAgents?.[e]}function d(e,t){a()[e]=t}function l(){return function(){let e=a();const t=e.info||{};e.info={beacon:o.beacon,errorBeacon:o.errorBeacon,...t}}(),function(){let e=a();const t=e.init||{};e.init={...t}}(),s(),function(){let e=a();const t=e.loader_config||{};e.loader_config={...t}}(),a()}},2843:(e,t,r)=>{"use strict";r.d(t,{u:()=>i});var n=r(3878);function i(e,t=!1,r,i){(0,n.DD)("visibilitychange",(function(){if(t)return void("hidden"===document.visibilityState&&e());e(document.visibilityState)}),r,i)}},3434:(e,t,r)=>{"use strict";r.d(t,{YM:()=>c});var n=r(7836),i=r(5607);const o="nr@original:".concat(i.W);var a=Object.prototype.hasOwnProperty,s=!1;function c(e,t){return e||(e=n.ee),r.inPlace=function(e,t,n,i,o){n||(n="");const a="-"===n.charAt(0);for(let s=0;s<t.length;s++){const c=t[s],u=e[c];d(u)||(e[c]=r(u,a?c+n:n,i,c,o))}},r.flag=o,r;function r(t,r,n,s,c){return d(t)?t:(r||(r=""),nrWrapper[o]=t,function(e,t,r){if(Object.defineProperty&&Object.keys)try{return Object.keys(e).forEach((function(r){Object.defineProperty(t,r,{get:function(){return e[r]},set:function(t){return e[r]=t,t}})})),t}catch(e){u([e],r)}for(var n in e)a.call(e,n)&&(t[n]=e[n])}(t,nrWrapper,e),nrWrapper);function nrWrapper(){var o,a,d,l;try{a=this,o=[...arguments],d="function"==typeof n?n(o,a):n||{}}catch(t){u([t,"",[o,a,s],d],e)}i(r+"start",[o,a,s],d,c);try{return l=t.apply(a,o)}catch(e){throw i(r+"err",[o,a,e],d,c),e}finally{i(r+"end",[o,a,l],d,c)}}}function i(r,n,i,o){if(!s||t){var a=s;s=!0;try{e.emit(r,n,i,t,o)}catch(t){u([t,r,n,i],e)}s=a}}}function u(e,t){t||(t=n.ee);try{t.emit("internal-error",e)}catch(e){}}function d(e){return!(e&&"function"==typeof e&&e.apply&&!e[o])}},993:(e,t,r)=>{"use strict";r.d(t,{ET:()=>o,p_:()=>i});var n=r(860);const i={ERROR:"ERROR",WARN:"WARN",INFO:"INFO",DEBUG:"DEBUG",TRACE:"TRACE"},o="log";n.K7.logging},3969:(e,t,r)=>{"use strict";r.d(t,{TZ:()=>n,XG:()=>s,rs:()=>i,xV:()=>a,z_:()=>o});const n=r(860).K7.metrics,i="sm",o="cm",a="storeSupportabilityMetrics",s="storeEventMetrics"},6630:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewEvent},782:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewTiming},6344:(e,t,r)=>{"use strict";r.d(t,{G4:()=>i});var n=r(2614);r(860).K7.sessionReplay;const i={RECORD:"recordReplay",PAUSE:"pauseReplay",REPLAY_RUNNING:"replayRunning",ERROR_DURING_REPLAY:"errorDuringReplay"};n.g.ERROR,n.g.FULL,n.g.OFF},4234:(e,t,r)=>{"use strict";r.d(t,{W:()=>o});var n=r(7836),i=r(1687);class o{constructor(e,t){this.agentIdentifier=e,this.ee=n.ee.get(e),this.featureName=t,this.blocked=!1}deregisterDrain(){(0,i.x3)(this.agentIdentifier,this.featureName)}}},7603:(e,t,r)=>{"use strict";r.d(t,{j:()=>P});var n=r(860),i=r(2555),o=r(3371),a=r(9908),s=r(7836),c=r(1687),u=r(5289),d=r(6154),l=r(944),f=r(3969),g=r(384),p=r(6344);const h=["setErrorHandler","finished","addToTrace","addRelease","addPageAction","setCurrentRouteName","setPageViewName","setCustomAttribute","interaction","noticeError","setUserId","setApplicationVersion","start",p.G4.RECORD,p.G4.PAUSE,"log","wrapLogger"],v=["setErrorHandler","finished","addToTrace","addRelease"];var m=r(1863),b=r(2614),y=r(993);var w=r(2646),A=r(3434);function R(e,t,r,n){if("object"!=typeof t||!t||"string"!=typeof r||!r||"function"!=typeof t[r])return(0,l.R)(29);const i=function(e){return(e||s.ee).get("logger")}(e),o=(0,A.YM)(i),a=new w.y(s.P);return a.level=n.level,a.customAttributes=n.customAttributes,o.inPlace(t,[r],"wrap-logger-",a),i}function E(){const e=(0,g.pV)();h.forEach((t=>{e[t]=(...r)=>function(t,...r){let n=[];return Object.values(e.initializedAgents).forEach((e=>{e&&e.api?e.exposed&&e.api[t]&&n.push(e.api[t](...r)):(0,l.R)(38,t)})),n.length>1?n:n[0]}(t,...r)}))}const x={};function _(e,t,g=!1){t||(0,c.Ak)(e,"api");const h={};var w=s.ee.get(e),A=w.get("tracer");x[e]=b.g.OFF,w.on(p.G4.REPLAY_RUNNING,(t=>{x[e]=t}));var E="api-",_=E+"ixn-";function N(t,r,n,o){const a=(0,i.Vp)(e);return null===r?delete a.jsAttributes[t]:(0,i.x1)(e,{...a,jsAttributes:{...a.jsAttributes,[t]:r}}),j(E,n,!0,o||null===r?"session":void 0)(t,r)}function T(){}h.log=function(e,{customAttributes:t={},level:r=y.p_.INFO}={}){(0,a.p)(f.xV,["API/log/called"],void 0,n.K7.metrics,w),function(e,t,r={},i=y.p_.INFO){(0,a.p)(f.xV,["API/logging/".concat(i.toLowerCase(),"/called")],void 0,n.K7.metrics,e),(0,a.p)(y.ET,[(0,m.t)(),t,r,i],void 0,n.K7.logging,e)}(w,e,t,r)},h.wrapLogger=(e,t,{customAttributes:r={},level:i=y.p_.INFO}={})=>{(0,a.p)(f.xV,["API/wrapLogger/called"],void 0,n.K7.metrics,w),R(w,e,t,{customAttributes:r,level:i})},v.forEach((e=>{h[e]=j(E,e,!0,"api")})),h.addPageAction=j(E,"addPageAction",!0,n.K7.genericEvents),h.setPageViewName=function(t,r){if("string"==typeof t)return"/"!==t.charAt(0)&&(t="/"+t),(0,o.f)(e).customTransaction=(r||"http://custom.transaction")+t,j(E,"setPageViewName",!0)()},h.setCustomAttribute=function(e,t,r=!1){if("string"==typeof e){if(["string","number","boolean"].includes(typeof t)||null===t)return N(e,t,"setCustomAttribute",r);(0,l.R)(40,typeof t)}else(0,l.R)(39,typeof e)},h.setUserId=function(e){if("string"==typeof e||null===e)return N("enduser.id",e,"setUserId",!0);(0,l.R)(41,typeof e)},h.setApplicationVersion=function(e){if("string"==typeof e||null===e)return N("application.version",e,"setApplicationVersion",!1);(0,l.R)(42,typeof e)},h.start=()=>{try{(0,a.p)(f.xV,["API/start/called"],void 0,n.K7.metrics,w),w.emit("manual-start-all")}catch(e){(0,l.R)(23,e)}},h[p.G4.RECORD]=function(){(0,a.p)(f.xV,["API/recordReplay/called"],void 0,n.K7.metrics,w),(0,a.p)(p.G4.RECORD,[],void 0,n.K7.sessionReplay,w)},h[p.G4.PAUSE]=function(){(0,a.p)(f.xV,["API/pauseReplay/called"],void 0,n.K7.metrics,w),(0,a.p)(p.G4.PAUSE,[],void 0,n.K7.sessionReplay,w)},h.interaction=function(e){return(new T).get("object"==typeof e?e:{})};const S=T.prototype={createTracer:function(e,t){var r={},i=this,o="function"==typeof t;return(0,a.p)(f.xV,["API/createTracer/called"],void 0,n.K7.metrics,w),g||(0,a.p)(_+"tracer",[(0,m.t)(),e,r],i,n.K7.spa,w),function(){if(A.emit((o?"":"no-")+"fn-start",[(0,m.t)(),i,o],r),o)try{return t.apply(this,arguments)}catch(e){const t="string"==typeof e?new Error(e):e;throw A.emit("fn-err",[arguments,this,t],r),t}finally{A.emit("fn-end",[(0,m.t)()],r)}}}};function j(e,t,r,i){return function(){return(0,a.p)(f.xV,["API/"+t+"/called"],void 0,n.K7.metrics,w),i&&(0,a.p)(e+t,[(0,m.t)(),...arguments],r?null:this,i,w),r?void 0:this}}function k(){r.e(296).then(r.bind(r,8778)).then((({setAPI:t})=>{t(e),(0,c.Ze)(e,"api")})).catch((e=>{(0,l.R)(27,e),w.abort()}))}return["actionText","setName","setAttribute","save","ignore","onEnd","getContext","end","get"].forEach((e=>{S[e]=j(_,e,void 0,g?n.K7.softNav:n.K7.spa)})),h.setCurrentRouteName=g?j(_,"routeName",void 0,n.K7.softNav):j(E,"routeName",!0,n.K7.spa),h.noticeError=function(t,r){"string"==typeof t&&(t=new Error(t)),(0,a.p)(f.xV,["API/noticeError/called"],void 0,n.K7.metrics,w),(0,a.p)("err",[t,(0,m.t)(),!1,r,!!x[e]],void 0,n.K7.jserrors,w)},d.RI?(0,u.GG)((()=>k()),!0):k(),h}var N=r(9417),T=r(8122);const S={accountID:void 0,trustKey:void 0,agentID:void 0,licenseKey:void 0,applicationID:void 0,xpid:void 0},j={};var k=r(5284);const I=e=>{const t=e.startsWith("http");e+="/",r.p=t?e:"https://"+e};let O=!1;function P(e,t={},r,n){let{init:a,info:c,loader_config:u,runtime:l={},exposed:f=!0}=t;l.loaderType=r;const p=(0,g.pV)();c||(a=p.init,c=p.info,u=p.loader_config),(0,N.xN)(e.agentIdentifier,a||{}),function(e,t){if(!e)throw new Error("All loader-config objects require an agent identifier!");j[e]=(0,T.a)(t,S);const r=(0,g.nY)(e);r&&(r.loader_config=j[e])}(e.agentIdentifier,u||{}),c.jsAttributes??={},d.bv&&(c.jsAttributes.isWorker=!0),(0,i.x1)(e.agentIdentifier,c);const h=(0,N.D0)(e.agentIdentifier),v=[c.beacon,c.errorBeacon];O||(h.proxy.assets&&(I(h.proxy.assets),v.push(h.proxy.assets)),h.proxy.beacon&&v.push(h.proxy.beacon),E(),(0,g.US)("activatedFeatures",k.B),e.runSoftNavOverSpa&&=!0===h.soft_navigations.enabled&&h.feature_flags.includes("soft_nav")),l.denyList=[...h.ajax.deny_list||[],...h.ajax.block_internal?v:[]],l.ptid=e.agentIdentifier,(0,o.V)(e.agentIdentifier,l),e.ee=s.ee.get(e.agentIdentifier),void 0===e.api&&(e.api=_(e.agentIdentifier,n,e.runSoftNavOverSpa)),void 0===e.exposed&&(e.exposed=f),O=!0}},8374:(e,t,r)=>{r.nc=(()=>{try{return document?.currentScript?.nonce}catch(e){}return""})()},860:(e,t,r)=>{"use strict";r.d(t,{$J:()=>o,K7:()=>n,P3:()=>i});const n={ajax:"ajax",genericEvents:"generic_events",jserrors:"jserrors",logging:"logging",metrics:"metrics",pageAction:"page_action",pageViewEvent:"page_view_event",pageViewTiming:"page_view_timing",sessionReplay:"session_replay",sessionTrace:"session_trace",softNav:"soft_navigations",spa:"spa"},i={[n.pageViewEvent]:1,[n.pageViewTiming]:2,[n.metrics]:3,[n.jserrors]:4,[n.spa]:5,[n.ajax]:6,[n.sessionTrace]:7,[n.softNav]:8,[n.sessionReplay]:9,[n.logging]:10,[n.genericEvents]:11},o={[n.pageViewTiming]:"events",[n.ajax]:"events",[n.spa]:"events",[n.softNav]:"events",[n.metrics]:"jserrors",[n.jserrors]:"jserrors",[n.sessionTrace]:"browser/blobs",[n.sessionReplay]:"browser/blobs",[n.logging]:"browser/logs",[n.genericEvents]:"ins"}}},n={};function i(e){var t=n[e];if(void 0!==t)return t.exports;var o=n[e]={exports:{}};return r[e](o,o.exports,i),o.exports}i.m=r,i.d=(e,t)=>{for(var r in t)i.o(t,r)&&!i.o(e,r)&&Object.defineProperty(e,r,{enumerable:!0,get:t[r]})},i.f={},i.e=e=>Promise.all(Object.keys(i.f).reduce(((t,r)=>(i.f[r](e,t),t)),[])),i.u=e=>"nr-rum-1.274.0.min.js",i.o=(e,t)=>Object.prototype.hasOwnProperty.call(e,t),e={},t="NRBA-1.274.0.PROD:",i.l=(r,n,o,a)=>{if(e[r])e[r].push(n);else{var s,c;if(void 0!==o)for(var u=document.getElementsByTagName("script"),d=0;d<u.length;d++){var l=u[d];if(l.getAttribute("src")==r||l.getAttribute("data-webpack")==t+o){s=l;break}}if(!s){c=!0;var f={296:"sha512-gkYkZDAwQ9PwaDXs2YM+rNIdRej1Ac1mupWobRJ8eahQcXz6/sunGZCKklrzi5kWxhOGRZr2tn0rEKuLTXzfAA=="};(s=document.createElement("script")).charset="utf-8",s.timeout=120,i.nc&&s.setAttribute("nonce",i.nc),s.setAttribute("data-webpack",t+o),s.src=r,0!==s.src.indexOf(window.location.origin+"/")&&(s.crossOrigin="anonymous"),f[a]&&(s.integrity=f[a])}e[r]=[n];var g=(t,n)=>{s.onerror=s.onload=null,clearTimeout(p);var i=e[r];if(delete e[r],s.parentNode&&s.parentNode.removeChild(s),i&&i.forEach((e=>e(n))),t)return t(n)},p=setTimeout(g.bind(null,void 0,{type:"timeout",target:s}),12e4);s.onerror=g.bind(null,s.onerror),s.onload=g.bind(null,s.onload),c&&document.head.appendChild(s)}},i.r=e=>{"undefined"!=typeof Symbol&&Symbol.toStringTag&&Object.defineProperty(e,Symbol.toStringTag,{value:"Module"}),Object.defineProperty(e,"__esModule",{value:!0})},i.p="https://js-agent.newrelic.com/",(()=>{var e={840:0,374:0};i.f.j=(t,r)=>{var n=i.o(e,t)?e[t]:void 0;if(0!==n)if(n)r.push(n[2]);else{var o=new Promise(((r,i)=>n=e[t]=[r,i]));r.push(n[2]=o);var a=i.p+i.u(t),s=new Error;i.l(a,(r=>{if(i.o(e,t)&&(0!==(n=e[t])&&(e[t]=void 0),n)){var o=r&&("load"===r.type?"missing":r.type),a=r&&r.target&&r.target.src;s.message="Loading chunk "+t+" failed.\n("+o+": "+a+")",s.name="ChunkLoadError",s.type=o,s.request=a,n[1](s)}}),"chunk-"+t,t)}};var t=(t,r)=>{var n,o,[a,s,c]=r,u=0;if(a.some((t=>0!==e[t]))){for(n in s)i.o(s,n)&&(i.m[n]=s[n]);if(c)c(i)}for(t&&t(r);u<a.length;u++)o=a[u],i.o(e,o)&&e[o]&&e[o][0](),e[o]=0},r=self["webpackChunk:NRBA-1.274.0.PROD"]=self["webpackChunk:NRBA-1.274.0.PROD"]||[];r.forEach(t.bind(null,0)),r.push=t.bind(null,r.push.bind(r))})(),(()=>{"use strict";i(8374);var e=i(944),t=i(6344),r=i(9566);class n{agentIdentifier;constructor(e=(0,r.LA)(16)){this.agentIdentifier=e}#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}addPageAction(e,t){return this.#e("addPageAction",e,t)}setPageViewName(e,t){return this.#e("setPageViewName",e,t)}setCustomAttribute(e,t,r){return this.#e("setCustomAttribute",e,t,r)}noticeError(e,t){return this.#e("noticeError",e,t)}setUserId(e){return this.#e("setUserId",e)}setApplicationVersion(e){return this.#e("setApplicationVersion",e)}setErrorHandler(e){return this.#e("setErrorHandler",e)}addRelease(e,t){return this.#e("addRelease",e,t)}log(e,t){return this.#e("log",e,t)}}class o extends n{#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}start(){return this.#e("start")}finished(e){return this.#e("finished",e)}recordReplay(){return this.#e(t.G4.RECORD)}pauseReplay(){return this.#e(t.G4.PAUSE)}addToTrace(e){return this.#e("addToTrace",e)}setCurrentRouteName(e){return this.#e("setCurrentRouteName",e)}interaction(){return this.#e("interaction")}wrapLogger(e,t,r){return this.#e("wrapLogger",e,t,r)}}var a=i(860),s=i(9417);const c=Object.values(a.K7);function u(e){const t={};return c.forEach((r=>{t[r]=function(e,t){return!0===(0,s.gD)(t,"".concat(e,".enabled"))}(r,e)})),t}var d=i(7603);var l=i(1687),f=i(4234),g=i(5289),p=i(6154),h=i(384);const v=e=>p.RI&&!0===(0,s.gD)(e,"privacy.cookies_enabled");function m(e){return!!(0,h.dV)().o.MO&&v(e)&&!0===(0,s.gD)(e,"session_trace.enabled")}var b=i(6389);class y extends f.W{constructor(e,t,r=!0){super(e.agentIdentifier,t),this.auto=r,this.abortHandler=void 0,this.featAggregate=void 0,this.onAggregateImported=void 0,!1===e.init[this.featureName].autoStart&&(this.auto=!1),this.auto?(0,l.Ak)(e.agentIdentifier,t):this.ee.on("manual-start-all",(0,b.J)((()=>{(0,l.Ak)(e.agentIdentifier,this.featureName),this.auto=!0,this.importAggregator(e)})))}importAggregator(t,r={}){if(this.featAggregate||!this.auto)return;let n;this.onAggregateImported=new Promise((e=>{n=e}));const o=async()=>{let o;try{if(v(this.agentIdentifier)){const{setupAgentSession:e}=await i.e(296).then(i.bind(i,3861));o=e(t)}}catch(t){(0,e.R)(20,t),this.ee.emit("internal-error",[t]),this.featureName===a.K7.sessionReplay&&this.abortHandler?.()}try{if(t.sharedAggregator)await t.sharedAggregator;else{t.sharedAggregator=i.e(296).then(i.bind(i,9337));const{EventAggregator:e}=await t.sharedAggregator;t.sharedAggregator=new e}if(!this.#t(this.featureName,o))return(0,l.Ze)(this.agentIdentifier,this.featureName),void n(!1);const{lazyFeatureLoader:e}=await i.e(296).then(i.bind(i,6103)),{Aggregate:a}=await e(this.featureName,"aggregate");this.featAggregate=new a(t,r),n(!0)}catch(t){(0,e.R)(34,t),this.abortHandler?.(),(0,l.Ze)(this.agentIdentifier,this.featureName,!0),n(!1),this.ee&&this.ee.abort()}};p.RI?(0,g.GG)((()=>o()),!0):o()}#t(e,t){switch(e){case a.K7.sessionReplay:return m(this.agentIdentifier)&&!!t;case a.K7.sessionTrace:return!!t;default:return!0}}}var w=i(6630);class A extends y{static featureName=w.T;constructor(e,t=!0){super(e,w.T,t),this.importAggregator(e)}}var R=i(9908),E=i(2843),x=i(3878),_=i(782),N=i(1863);class T extends y{static featureName=_.T;constructor(e,t=!0){super(e,_.T,t),p.RI&&((0,E.u)((()=>(0,R.p)("docHidden",[(0,N.t)()],void 0,_.T,this.ee)),!0),(0,x.sp)("pagehide",(()=>(0,R.p)("winPagehide",[(0,N.t)()],void 0,_.T,this.ee))),this.importAggregator(e))}}var S=i(3969);class j extends y{static featureName=S.TZ;constructor(e,t=!0){super(e,S.TZ,t),this.importAggregator(e)}}new class extends o{constructor(t,r){super(r),p.gm?(this.features={},(0,h.bQ)(this.agentIdentifier,this),this.desiredFeatures=new Set(t.features||[]),this.desiredFeatures.add(A),this.runSoftNavOverSpa=[...this.desiredFeatures].some((e=>e.featureName===a.K7.softNav)),(0,d.j)(this,t,t.loaderType||"agent"),this.run()):(0,e.R)(21)}get config(){return{info:this.info,init:this.init,loader_config:this.loader_config,runtime:this.runtime}}run(){try{const t=u(this.agentIdentifier),r=[...this.desiredFeatures];r.sort(((e,t)=>a.P3[e.featureName]-a.P3[t.featureName])),r.forEach((r=>{if(!t[r.featureName]&&r.featureName!==a.K7.pageViewEvent)return;if(this.runSoftNavOverSpa&&r.featureName===a.K7.spa)return;if(!this.runSoftNavOverSpa&&r.featureName===a.K7.softNav)return;const n=function(e){switch(e){case a.K7.ajax:return[a.K7.jserrors];case a.K7.sessionTrace:return[a.K7.ajax,a.K7.pageViewEvent];case a.K7.sessionReplay:return[a.K7.sessionTrace];case a.K7.pageViewTiming:return[a.K7.pageViewEvent];default:return[]}}(r.featureName).filter((e=>!(e in this.features)));n.length>0&&(0,e.R)(36,{targetFeature:r.featureName,missingDependencies:n}),this.features[r.featureName]=new r(this)}))}catch(t){(0,e.R)(22,t);for(const e in this.features)this.features[e].abortHandler?.();const r=(0,h.Zm)();delete r.initializedAgents[this.agentIdentifier]?.api,delete r.initializedAgents[this.agentIdentifier]?.features,delete this.sharedAggregator;return r.ee.get(this.agentIdentifier).abort(),!1}}}({features:[A,T,j],loaderType:"lite"})})()})();</script><meta name='viewport' content='width=device-width, initial-scale=1.0' ><link rel="profile" href="https://gmpg.org/xfn/11"><link rel="icon" href="https://cdn-assets-eu.frontify.com/s3/frontify-enterprise-files-eu/eyJwYXRoIjoidGVsZWZvbmljYVwvYWNjb3VudHNcLzJkXC80MDAwNDcwXC9mYXZpY29uc1wvYzRcLzFcLzQ5MTliZTlhNDQxYWE1N2VlZjRlY2M4MmM1M2ZhNjVmLTE2MTkxNzczMzUucG5nIn0:telefonica:f1WW8WEiNAXO7Ttc8TjZokUZ2LVwPdFEo3CSJEVgV-A?width=196&rect=0,0,800,800&reference_width=800&format=png" type="image/x-icon" /><meta name='robots' content='index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1' /><link rel='preconnect' href='https://cdn.cookielaw.org' ><title>Internal policies - Telefónica</title><meta name="description" content="Would you like to learn all about Telefónica’s performance policies? Enter here to find out more about all these performance agreements and commitments." /><link rel="canonical" href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/" /><meta property="og:locale" content="en_GB" /><meta property="og:type" content="article" /><meta property="og:title" content="Policies" /><meta property="og:description" content="Would you like to learn all about Telefónica’s performance policies? Enter here to find out more about all these performance agreements and commitments." /><meta property="og:url" content="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/" /><meta property="og:site_name" content="Telefónica" /><meta property="article:published_time" content="2021-10-15T14:05:17+02:00" /><meta property="article:modified_time" content="2023-04-13T12:55:37+02:00" /><meta name="twitter:card" content="summary_large_image" /><meta name="twitter:label1" content="Est. reading time" /><meta name="twitter:data1" content="1 minute" /> <script type="application/ld+json" class="yoast-schema-graph">{"@context":"https://schema.org","@graph":[{"@type":"WebPage","@id":"https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/","url":"https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/","name":"Internal policies - Telefónica","isPartOf":{"@id":"https://www.telefonica.com/en/#website"},"datePublished":"2021-10-15T12:05:17+00:00","dateModified":"2023-04-13T10:55:37+00:00","description":"Would you like to learn all about Telefónica’s performance policies? Enter here to find out more about all these performance agreements and commitments.","inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/"]}]},{"@type":"WebSite","@id":"https://www.telefonica.com/en/#website","url":"https://www.telefonica.com/en/","name":"Telefónica","description":"Telefonica.com","publisher":{"@id":"https://www.telefonica.com/en/#organization"},"inLanguage":"en-GB"},{"@type":"Organization","@id":"https://www.telefonica.com/en/#organization","name":"Telefónica","url":"https://www.telefonica.com/en/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https://www.telefonica.com/en/#/schema/logo/image/","url":"https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/01/telefonica-logo.png","contentUrl":"https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/01/telefonica-logo.png","width":500,"height":179,"caption":"Telefónica"},"image":{"@id":"https://www.telefonica.com/en/#/schema/logo/image/"}}]}</script> <link rel='dns-prefetch' href='//stats.wp.com' /><style id='safe-svg-svg-icon-style-inline-css'>.safe-svg-cover{text-align:center}.safe-svg-cover .safe-svg-inside{display:inline-block;max-width:100%}.safe-svg-cover svg{height:100%;max-height:100%;max-width:100%;width:100%}</style><style id='jetpack-sharing-buttons-style-inline-css'>.jetpack-sharing-buttons__services-list{display:flex;flex-direction:row;flex-wrap:wrap;gap:0;list-style-type:none;margin:5px;padding:0}.jetpack-sharing-buttons__services-list.has-small-icon-size{font-size:12px}.jetpack-sharing-buttons__services-list.has-normal-icon-size{font-size:16px}.jetpack-sharing-buttons__services-list.has-large-icon-size{font-size:24px}.jetpack-sharing-buttons__services-list.has-huge-icon-size{font-size:36px}@media print{.jetpack-sharing-buttons__services-list{display:none!important}}.editor-styles-wrapper .wp-block-jetpack-sharing-buttons{gap:0;padding-inline-start:0}ul.jetpack-sharing-buttons__services-list.has-background{padding:1.25em 2.375em}</style><style id='classic-theme-styles-inline-css'>/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none}</style><style id='global-styles-inline-css'>:root{--wp--preset--aspect-ratio--square: 1;--wp--preset--aspect-ratio--4-3: 4/3;--wp--preset--aspect-ratio--3-4: 3/4;--wp--preset--aspect-ratio--3-2: 3/2;--wp--preset--aspect-ratio--2-3: 2/3;--wp--preset--aspect-ratio--16-9: 16/9;--wp--preset--aspect-ratio--9-16: 9/16;--wp--preset--color--black: #000000;--wp--preset--color--cyan-bluish-gray: #abb8c3;--wp--preset--color--white: #ffffff;--wp--preset--color--pale-pink: #f78da7;--wp--preset--color--vivid-red: #cf2e2e;--wp--preset--color--luminous-vivid-orange: #ff6900;--wp--preset--color--luminous-vivid-amber: #fcb900;--wp--preset--color--light-green-cyan: #7bdcb5;--wp--preset--color--vivid-green-cyan: #00d084;--wp--preset--color--pale-cyan-blue: #8ed1fc;--wp--preset--color--vivid-cyan-blue: #0693e3;--wp--preset--color--vivid-purple: #9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);--wp--preset--gradient--cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);--wp--preset--gradient--blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);--wp--preset--gradient--blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);--wp--preset--gradient--luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);--wp--preset--gradient--pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);--wp--preset--gradient--electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);--wp--preset--gradient--midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);--wp--preset--font-size--small: 13px;--wp--preset--font-size--medium: 20px;--wp--preset--font-size--large: 36px;--wp--preset--font-size--x-large: 42px;--wp--preset--spacing--20: 0.44rem;--wp--preset--spacing--30: 0.67rem;--wp--preset--spacing--40: 1rem;--wp--preset--spacing--50: 1.5rem;--wp--preset--spacing--60: 2.25rem;--wp--preset--spacing--70: 3.38rem;--wp--preset--spacing--80: 5.06rem;--wp--preset--shadow--natural: 6px 6px 9px rgba(0, 0, 0, 0.2);--wp--preset--shadow--deep: 12px 12px 50px rgba(0, 0, 0, 0.4);--wp--preset--shadow--sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);--wp--preset--shadow--outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);--wp--preset--shadow--crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}.is-layout-flex{flex-wrap: wrap;align-items: center;}.is-layout-flex > :is(*, div){margin: 0;}body .is-layout-grid{display: grid;}.is-layout-grid > :is(*, div){margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color: var(--wp--preset--color--white) !important;}.has-pale-pink-color{color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background: var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size: var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size: var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size: var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size: var(--wp--preset--font-size--x-large) !important;} :where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;} :where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;} :root :where(.wp-block-pullquote){font-size: 1.5em;line-height: 1.6;}</style><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='telefonica-theme-style' href='https://www.telefonica.com/en/wp-content/themes/telefonica-theme/style.min.css?ver=1732204426' type='text/css' media='all' /><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='cp-animate-rotate' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/assets/css/minified-animation/rotate.min.css?ver=3.5.29' type='text/css' media='all' /><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='cp-animate-bounce' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/assets/css/minified-animation/bounce.min.css?ver=3.5.29' type='text/css' media='all' /><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='convert-plus-module-main-style' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/assets/css/cp-module-main.css?ver=3.5.29' type='text/css' media='all' /><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='convert-plus-modal-style' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/modal/assets/css/modal.min.css?ver=3.5.29' type='text/css' media='all' /><style id='critical-tel-inline-css'>@font-face{font-family:Telefonica-sans-bold;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_Bold.woff2) format('woff2')}@font-face{font-family:Telefonica-sans-demibold;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_DemiBold.woff2) format('woff2')}@font-face{font-family:Telefonica-sans-medium;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_Medium.woff2) format('woff2')}@font-face{font-family:Telefonica-sans-regular;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_Regular.woff2) format('woff2')}@font-face{font-family:Telefonica-sans-light;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_Light.woff2) format('woff2')}@font-face{font-family:Telefonica-sans-extralight;src:url(/wp-content/themes/telefonica-theme/font/Telefonica/Telefonica_Sans_ExtraLight.woff2) format('woff2')}@font-face{font-family:PlayfairDisplay-italic;src:url(/wp-content/themes/telefonica-theme/font/PlayfairDisplay/PlayfairDisplay-Italic.woff2) format('woff2')}.sticky .site-header{position:fixed;top:0;left:0;width:100%}.sticky .site-header .wrap{-webkit-animation:menu-on .3s;animation:menu-on .3s}.sticky .site-main{margin-top:60px}@media (min-width:768px){.sticky .site-header{position:relative}.sticky .site-main{margin-top:0}}.site-branding .site-description.microsite{display:block;padding-top:0}@media (max-width:799px){.site-branding .site-description.microsite{font-size:13px}.menu--open .site-header-microsite.options{position:fixed;top:0;width:100%;z-index:23}.menu--open .site-header-microsite+.wrap .site-branding{top:37px}.menu--open .site-header-microsite+.wrap .main-navigation{margin-top:35px}.site-header-microsite .site-lang{padding-right:5px}}.site-header-microsite.options{height:36px;background-color:#f8f8f8;border-bottom:1px solid #d1dcf0;display:grid;grid-template-columns:1fr;grid-template-rows:1fr;justify-content:end;align-items:center;max-width:100%}.site-header-microsite.options .site-options{display:grid;grid-template-columns:1fr auto auto auto}.site-header-microsite .content-options{max-width:1224px;margin:0 auto;width:100%}.site-header-microsite .site-lang,.site-header-microsite .site-search{margin-left:0}.site-header-microsite .stock iframe{max-width:190px}.site-header-microsite .item-option{height:24px}.site-header-microsite .site-search{padding-top:2px}.site-header-microsite .item-option+.item-option{border-left:2px solid #d1dcf0}.site-header{font-family:Telefonica-sans-medium;z-index:100022;width:100%;color:#06f;border-bottom:1px solid #f2f4ff;background-color:#fff;fill:#06f}.site-header .wrap{display:grid;height:60px;padding:0 15px;align-items:center;grid-template-columns:auto auto -webkit-min-content;grid-template-columns:auto auto min-content}.site-header .site-options{display:-webkit-box;display:-ms-flexbox;display:flex;grid-area:1/2/2/3;-webkit-box-pack:end;-ms-flex-pack:end;justify-content:flex-end;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.site-header .site-lang.site-lang--mob{display:block}.content-options .site-search .icon{width:18px;height:18px}.site-header .main-navigation{grid-area:1/3/2/4}@media (max-width:769px){.site-header{position:fixed;top:0}.site-header+main{margin-top:55px}.site-header.header-micrositio+main{margin-top:100px}.site-header.site-header--country+main{margin-top:91px}}@media (min-width:768px){.site-header{top:auto}.site-header .wrap{height:118px;grid-template-rows:79px 39px;grid-template-columns:auto auto}.site-header .site-options{grid-area:1/2/2/3}.site-header .main-navigation{grid-area:2/1/3/3}.site-header .site-lang{display:block}.site-header .site-lang.site-lang--mob{display:none}}@media (min-width:1280px){.site-header .wrap{padding:0}}.site-header--micro .site-branding__logo{width:100px;height:24px}.site-header--micro .main-navigation .menu-primary-container .menu a{height:40px}.site-header--micro .main-navigation .menu-primary-container .menu .menu-item{margin:0 20px 0 0}.site-header--micro .main-navigation .menu-primary-container .menu .menu-item:first-child{display:none!important}@media (min-width:768px){.site-header--micro .site-branding__logo{width:130px;height:31px}}@media (min-width:1280px){.site-header--micro .wrap{height:171px;grid-template-rows:92px 80px}.site-header--micro .menu-toggle{display:none}.site-header--micro .site-branding{-webkit-box-pack:end;-ms-flex-pack:end;justify-content:flex-start;grid-area:1/1/2/2;flex-flow:row;align-items:center;gap:2em}.site-header--micro .main-navigation{-webkit-box-align:end;-ms-flex-align:end;align-items:flex-end;-webkit-box-pack:start;-ms-flex-pack:start;justify-content:flex-start}.site-header--micro .main-navigation .menu-primary-container .menu a{display:-webkit-box;display:-ms-flexbox;display:flex;height:auto;padding-bottom:20px;-webkit-box-align:end;-ms-flex-align:end;align-items:flex-end}.site-header--micro .main-navigation .menu-primary-container .menu .menu-item{display:-webkit-box;display:-ms-flexbox;display:flex;margin:0 35px 0 0;-webkit-box-align:end;-ms-flex-align:end;align-items:flex-end}.site-header--micro .main-navigation .menu-primary-container .menu .menu-item.mlp-language-nav-item{display:none}.site-header--micro .main-navigation .menu-primary-container .menu .menu-item:not(.mlp-language-nav-item):last-child{margin-right:0}}.site-header--country .site-branding__logo{width:100px;height:24px}@media (min-width:768px){.site-header--country .site-branding__logo{width:130px;height:31px}}.menu--open .site-header .main-navigation .menu{padding-left:0}.menu--open .site-header .main-navigation .menu-toggle--open{display:block}.main-navigation .menu-primary-container .menu .current-menu-ancestor~.shareholders.menu-item.current-menu-ancestor>a:after,.main-navigation .menu-primary-container .menu .current-page-ancestor~.shareholders.menu-item.current-menu-ancestor>a:after,.main-navigation div.menu-primary-container .menu .current-menu-item~.shareholders.menu-item.current-menu-ancestor>a:after,.menu--open .main-navigation .menu-primary-container .menu .current-page-ancestor~.shareholders.menu-item.current-menu-ancestor>a:after,.menu--open .site-header .main-navigation .current-menu-item .menu .current-menu-ancestor~.shareholders.menu-item.current-menu-ancestor a:nth-child(1)::after,.menu--open .site-header .main-navigation .current-page-ancestor .menu .current-menu-ancestor~.shareholders.menu-item.current-menu-ancestor a:nth-child(1)::after,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-ancestor~.shareholders.menu-item.current-menu-ancestor a:nth-child(1)::after{background-color:transparent}.menu--open .site-header .main-navigation .menu-primary-container .current-menu-ancestor~.shareholders button[data-expanded]:not([data-expanded=true])~.sub-menu__wrap,.menu--open .site-header .main-navigation .menu-primary-container .current-menu-item~.shareholders button[data-expanded]:not([data-expanded=true])~.sub-menu__wrap,.menu--open .site-header .main-navigation .menu-primary-container .current-page-ancestor~.shareholders button[data-expanded]:not([data-expanded=true])~.sub-menu__wrap{display:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-ancestor~.shareholders button[data-expanded]:not([data-expanded=true]) .icon,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-item~.shareholders button[data-expanded]:not([data-expanded=true]) .icon,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-page-ancestor~.shareholders button[data-expanded]:not([data-expanded=true]) .icon{transform:none}.site-branding{display:flex;flex-direction:row;gap:2em;grid-area:1/1/2/2;-webkit-box-align:start;-ms-flex-align:start;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:flex-start;-webkit-box-orient:horizontal;-webkit-box-direction:normal;-ms-flex-direction:row}.site-branding__logo{width:100px;height:24px;fill:#06f}.site-branding .icon{width:100px;height:25px;fill:#06f}.site-branding .site-title{font-size:.75rem;line-height:normal}.site-branding .site-title a{display:block}.site-branding .site-description{font-size:.9375rem;line-height:1.1875rem;display:none;margin-bottom:0;padding-top:5px;letter-spacing:.03em;color:#6e7894}@media (min-width:768px){.site-branding__logo{width:155px;height:42px}.site-branding .icon--logo{width:155px;height:40px;fill:#06f}}@media (min-width:1280px){.site-branding .site-description{display:block}}.site-lang{margin-left:28px}.site-lang a{-webkit-transition:none;-o-transition:none;transition:none;text-decoration:none;color:#06f}.site-lang ul{font-size:.75rem;display:-webkit-box;display:-ms-flexbox;display:flex;margin:0;list-style:none;-webkit-box-align:stretch;-ms-flex-align:stretch;align-items:stretch}.site-lang ul li{position:relative;display:-webkit-box;display:-ms-flexbox;display:flex;width:28px;height:auto;height:auto;min-height:auto;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;font-family:Telefonica-sans-medium}.site-lang ul li:after{position:absolute;top:5px;right:-1px;display:inline-block;width:1px;height:12px;content:'';border-right:1px solid #031a34}.site-lang ul li:last-child{padding-left:2px}.site-lang ul li:last-child::after{display:none}.site-lang ul li a{display:inline-block;height:18px;text-decoration:none;color:#031a34;border-bottom:3px solid transparent}.site-lang ul li a:focus,.site-lang ul li a:hover{border-bottom:3px solid #fff}.site-lang ul li.mlp-current-language-item a{border-bottom:2px solid #06f}.site-lang ul li.mlp-current-language-item{width:28px;min-width:28px;height:28px;min-height:28px}.site-lang ul li.mlp-current-language-item button{color:#06f}@media (min-width:768px){.site-lang{display:block}}.stock{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.stock__action{position:absolute;width:100%;height:100%}.stock__icon{margin-left:10px;fill:#06f}.stock__iframe{position:relative;display:none}@media (min-width:768px){.stock__icon{display:none}.stock__iframe{display:block;max-width:210px}}.site-search{margin-left:28px}.site-search .icon{width:24px;height:24px;padding:0}.site-search .icon:focus,.site-search .icon:hover{fill:#5e9eff}@media (min-width:768px){.site-search{margin-right:0}}@media (max-width:799px){.site-search{margin-left:10px}.site-lang{margin-left:12px}}.main-navigation{font-family:Telefonica-sans-medium;display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:end;-ms-flex-pack:end;justify-content:flex-end}.main-navigation .menu-primary-container{padding-top:5px}.main-navigation .menu-primary-container .menu{font-size:.75rem;line-height:.9375rem;display:none;list-style:none;text-transform:uppercase;-webkit-box-pack:end;-ms-flex-pack:end;justify-content:flex-end}.main-navigation .menu-primary-container .menu .menu-item,.main-navigation .menu-primary-container .menu .page_item,.main-navigation .menu-primary-container .menu__item{margin-right:40px}.main-navigation .menu-primary-container .menu .menu-item:first-child,.main-navigation .menu-primary-container .menu .page_item:first-child,.main-navigation .menu-primary-container .menu__item:first-child{display:none}.main-navigation .menu-primary-container .menu .mlp-language-nav-item{display:none}.main-navigation .menu-primary-container .menu a,.main-navigation .menu-primary-container .menu__link{position:relative;display:block;overflow:hidden;max-width:240px;height:35px;-webkit-transition:none;-o-transition:none;transition:none;text-decoration:none;letter-spacing:.05em;color:#031a34}.main-navigation .menu-primary-container .menu a:after,.main-navigation .menu-primary-container .menu__link:after{position:absolute;bottom:0;display:block;width:0;height:4px;margin-top:20px;content:'';-webkit-transition:all .3s ease-out;-o-transition:all .3s ease-out;transition:all .3s ease-out}.main-navigation .menu-primary-container .menu a:focus,.main-navigation .menu-primary-container .menu a:hover,.main-navigation .menu-primary-container .menu__link:focus,.main-navigation .menu-primary-container .menu__link:hover{text-decoration:none}.main-navigation .menu-primary-container .menu a:focus:after,.main-navigation .menu-primary-container .menu a:hover:after,.main-navigation .menu-primary-container .menu__link:focus:after,.main-navigation .menu-primary-container .menu__link:hover:after{width:100%;background-color:#06f}.main-navigation .menu-primary-container .menu .current-menu-ancestor .main-navigation .menu-primary-container .menu__link:after,.main-navigation .menu-primary-container .menu .current-menu-ancestor>a:after,.main-navigation .menu-primary-container .menu .current-menu-item .main-navigation .menu-primary-container .menu__link:after,.main-navigation .menu-primary-container .menu .current-menu-item>a:after,.main-navigation .menu-primary-container .menu .current-page-ancestor .main-navigation .menu-primary-container .menu__link:after,.main-navigation .menu-primary-container .menu .current-page-ancestor>a:after,.main-navigation .menu-primary-container .menu .current_page_item .main-navigation .menu-primary-container .menu__link:after,.main-navigation .menu-primary-container .menu .current_page_item>a:after,.main-navigation .menu-primary-container .menu__item--active .main-navigation .menu-primary-container .menu__link:after,.main-navigation .menu-primary-container .menu__item--active>a:after{width:100%;background-color:#06f}@media (min-width:1280px){.main-navigation .menu-primary-container .menu{display:-webkit-box;display:-ms-flexbox;display:flex}}@media (min-width:768px){.main-navigation{-webkit-box-align:start;-ms-flex-align:start;align-items:flex-start}}.menu-toggle{display:block;width:24px;min-width:auto;height:24px;min-height:auto;margin-left:30px;padding:0;-webkit-transition:none;-o-transition:none;transition:none;border-radius:0;background-color:transparent;background-image:url('data:image/svg+xml,%3Csvg width=\'25\' height=\'24\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cg clip-path=\'url(%23clip0)\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M6.06 6A1.017 1.017 0 015.03 4.998c0-.55.461-1 1.028-1h16.944c.567 0 1.028.447 1.028 1a1.017 1.017 0 01-1.028 1H6.06zm16.943 5c.567 0 1.028.447 1.028 1a1.015 1.015 0 01-1.028 1H1.06a1.015 1.015 0 01-1.028-1c0-.553.461-1 1.028-1h21.944zm0 7c.567 0 1.028.448 1.028 1.001a1.015 1.015 0 01-1.028 1H6.06a1.014 1.014 0 01-1.028-1c0-.553.461-1 1.028-1h16.944z\' fill=\'%230066FF\' /%3E%3C/g%3E%3Cdefs%3E%3CclipPath id=\'clip0\'%3E%3Cpath fill=\'%23fff\' transform=\'translate(.031)\' d=\'M0 0h24v24H0z\'/%3E%3C/clipPath%3E%3C/defs%3E%3C/svg%3E');background-repeat:no-repeat;background-size:25px}@media (min-width:768px){.menu-toggle{margin-left:0}}.menu-close-ico,.second-main-navigation,.sub-menu-view,.sub-menu__title,.sub-menu__wrap{display:none}.hide--scroll .site-options .tf-main-search{cursor:not-allowed}.hide--scroll .site-options .site-search{opacity:.4;cursor:not-allowed}.menu--open .at-share-dock-outer{display:none!important}.menu--open .tf-searcher{display:none}.menu--open .site-header{font-family:Telefonica-sans-medium;position:fixed;z-index:100022;top:0;left:0;display:block;overflow:auto;width:100%;height:100%;background:#fff}.menu--open .site-header .wrap{position:relative;display:block;max-width:100%;height:100%}.menu--open .site-header .site-branding{position:sticky;z-index:22;top:0;left:0;width:100%;height:79px;border-bottom:1px solid #f2f4ff;background-color:#fff}.menu--open .site-header .site-branding .icon--logo,.menu--open .site-header .site-branding .site-description{margin-left:25px}.menu--open .site-header .site-options{display:none}.menu--open .site-header .site-contact a{font-size:.6875rem;line-height:1rem;display:-webkit-box;display:-ms-flexbox;display:flex;min-width:121px;height:38px;margin-top:35px;text-decoration:none;letter-spacing:.05em;text-transform:uppercase;color:#fff;border-radius:100px;background:#1c77ff;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--open .site-header .site-contact a:focus,.menu--open .site-header .site-contact a:hover{text-decoration:none;background:#5e9eff}.menu--open .site-header .main-navigation{display:block;padding:0}.menu--open .site-header .main-navigation .menu-close-ico{display:block;background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'24\' height=\'24\' fill=\'none\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath fill-rule=\'evenodd\' d=\'M13.642 12L23.658 1.984a1.16 1.16 0 0 0 0-1.643 1.16 1.16 0 0 0-1.643 0L11.999 10.358 1.983.342A1.16 1.16 0 0 0 .341.383a1.16 1.16 0 0 0 0 1.602L10.357 12 .341 22.016a1.16 1.16 0 0 0 0 1.642c.454.451 1.188.451 1.643-.003l10.016-10.016 10.016 10.016c.451.454 1.181.458 1.636.007l.007-.007c.454-.454.454-1.188 0-1.639L13.642 12z\' fill=\'%23003245\'/%3E%3C/svg%3E')}.menu--open .site-header .main-navigation .menu-close{position:absolute;top:34px;right:28px;width:28px;height:28px;border:none;background-color:transparent;background-size:28px}.menu--open .site-header .main-navigation .menu-primary-container{width:100%}.menu--open .site-header .main-navigation .menu-primary-container .menu{display:block;overflow:auto;margin:0}.menu--open .site-header .main-navigation .menu-primary-container .menu .menu-item{font-size:1.25rem;line-height:25px;display:-webkit-box;display:-ms-flexbox;display:flex;overflow:hidden;min-height:60px;margin:0;padding:0;text-decoration:none;text-transform:uppercase;border-bottom:1px solid #f2f4ff;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-ms-flex-wrap:wrap;flex-wrap:wrap}@media (min-width:768px){.menu--open .site-header .main-navigation .menu-primary-container .menu .menu-item{min-height:auto}}.menu--open .site-header .main-navigation .menu-primary-container .menu .menu-item:first-child{display:-webkit-box;display:-ms-flexbox;display:flex}.menu--open .site-header .main-navigation .menu-primary-container .menu .mlp-language-nav-item{display:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-ancestor>a:nth-child(1)::after,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-page-ancestor>a:nth-child(1)::after{width:100%;background-color:#06f}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-ancestor .icon,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-item .icon,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-parent .icon{-webkit-transform:rotate(45deg);-ms-transform:rotate(45deg);transform:rotate(45deg);background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'24\' height=\'25\' fill=\'none\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath fill-rule=\'evenodd\' d=\'M22.894 11.095h-9.726V1.369A1.17 1.17 0 0 0 11.938.266a1.17 1.17 0 0 0-1.103 1.103v9.729H1.106a1.17 1.17 0 0 0-1.103 1.229 1.17 1.17 0 0 0 1.103 1.103h9.729v9.729a1.17 1.17 0 0 0 1.229 1.103 1.17 1.17 0 0 0 1.103-1.103V13.43h9.729A1.17 1.17 0 0 0 24 12.201c-.034-.598-.509-1.072-1.106-1.107z\' fill=\'%23B0B6CA\'/%3E%3C/svg%3E')}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu-view[data-expanded=false] .icon{background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'24\' height=\'25\' fill=\'none\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath fill-rule=\'evenodd\' d=\'M22.894 11.095h-9.726V1.369A1.17 1.17 0 0 0 11.938.266a1.17 1.17 0 0 0-1.103 1.103v9.729H1.106a1.17 1.17 0 0 0-1.103 1.229 1.17 1.17 0 0 0 1.103 1.103h9.729v9.729a1.17 1.17 0 0 0 1.229 1.103 1.17 1.17 0 0 0 1.103-1.103V13.43h9.729A1.17 1.17 0 0 0 24 12.201c-.034-.598-.509-1.072-1.106-1.107z\' fill=\'%2306f\'/%3E%3C/svg%3E')}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-ancestor .sub-menu__wrap,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-item .sub-menu__wrap,.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-parent .sub-menu__wrap{display:block}.menu--open .site-header .main-navigation .menu-primary-container .menu a{font-family:Telefonica-sans-medium;font-size:1rem;display:-webkit-box;display:-ms-flexbox;display:flex;max-width:240px;height:auto;min-height:60px;margin-left:18px;padding-top:4px;letter-spacing:.05em;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--open .site-header .main-navigation .menu-primary-container .menu a:after{height:2px}.menu--open .site-header .main-navigation .sub-menu__wrap{width:100%;height:100%;border-top:1px solid #f2f4ff;-ms-flex-wrap:wrap;flex-wrap:wrap}.menu--open .site-header .main-navigation .sub-menu__wrap.open{display:block}.menu--open .site-header .main-navigation .sub-menu__wrap .sub-menu .menu-item{padding:0;text-transform:none;border-bottom:1px solid #f2f4ff}.menu--open .site-header .main-navigation .menu-item-has-children{-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between}.menu--open .site-header .main-navigation .menu-toggle{position:fixed;z-index:23;top:22px;right:15px;width:20px;height:20px;margin:0;background-image:url('data:image/svg+xml,%3Csvg width=\'24\' height=\'24\' viewBox=\'0 0 24 24\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M13.6425 12.0001L23.6585 1.98419C24.1126 1.53 24.1126 0.795797 23.6585 0.341614C23.2043 -0.112569 22.4701 -0.112569 22.0159 0.341614L11.9999 10.3575L1.984 0.341614C1.51958 -0.102324 0.781955 -0.081835 0.341431 0.382593C-0.0854331 0.829946 -0.0854331 1.53342 0.341431 1.98419L10.3574 12.0001L0.341431 22.0161C-0.112752 22.4702 -0.112752 23.2079 0.341431 23.6586C0.795614 24.1094 1.52982 24.1094 1.984 23.6552L11.9999 13.6393L22.0159 23.6552C22.4667 24.1094 23.1974 24.1128 23.6516 23.662L23.6585 23.6552C24.1126 23.201 24.1126 22.4668 23.6585 22.0161L13.6425 12.0001Z\' fill=\'%230066FF\'/%3E%3C/svg%3E');background-size:20px}@media (min-width:768px){.menu--open .site-header .main-navigation .menu-toggle{position:absolute;right:0;top:30px;width:24px;height:24px;background-image:url('data:image/svg+xml,%3Csvg width=\'28\' height=\'29\' viewBox=\'0 0 28 29\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M15.9163 14.1313L27.6016 2.44607C28.1315 1.91619 28.1315 1.05961 27.6016 0.529734C27.0717 -0.000145853 26.2151 -0.000145853 25.6852 0.529734L14 12.215L2.31472 0.529734C1.77289 0.0118063 0.912331 0.0357107 0.398387 0.577543C-0.0996211 1.09946 -0.0996211 1.92017 0.398387 2.44607L12.0836 14.1313L0.398387 25.8166C-0.131494 26.3465 -0.131494 27.207 0.398387 27.7329C0.928268 28.2588 1.78484 28.2588 2.31472 27.7289L14 16.0437L25.6852 27.7289C26.2111 28.2588 27.0637 28.2628 27.5936 27.7369L27.6016 27.7289C28.1315 27.1991 28.1315 26.3425 27.6016 25.8166L15.9163 14.1313Z\' fill=\'%230066FF\'/%3E%3C/svg%3E');background-size:24px}.menu--open .site-header .main-navigation .menu-toggle:hover{background-image:url('data:image/svg+xml,%3Csvg width=\'28\' height=\'29\' viewBox=\'0 0 28 29\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M15.9163 14.1313L27.6016 2.44607C28.1315 1.91619 28.1315 1.05961 27.6016 0.529734C27.0717 -0.000145853 26.2151 -0.000145853 25.6852 0.529734L14 12.215L2.31472 0.529734C1.77289 0.0118063 0.912331 0.0357107 0.398387 0.577543C-0.0996211 1.09946 -0.0996211 1.92017 0.398387 2.44607L12.0836 14.1313L0.398387 25.8166C-0.131494 26.3465 -0.131494 27.207 0.398387 27.7329C0.928268 28.2588 1.78484 28.2588 2.31472 27.7289L14 16.0437L25.6852 27.7289C26.2111 28.2588 27.0637 28.2628 27.5936 27.7369L27.6016 27.7289C28.1315 27.1991 28.1315 26.3425 27.6016 25.8166L15.9163 14.1313Z\' fill=\'%235E9EFF\'/%3E%3C/svg%3E%0A')}}@media (min-width:768px) and (max-width:1280px){.menu--open .site-header .main-navigation .menu-toggle{right:15px}}.menu--open .site-header .main-navigation .menu-item-has-children{display:-webkit-box;display:-ms-flexbox;display:flex}.menu--open .site-header .main-navigation .sub-menu-view{display:block;width:75px;height:50px;padding:0;cursor:pointer;border:none;border-left:1px solid #f2f4ff;outline:0;background-color:transparent}.menu--open .site-header .main-navigation .sub-menu-view .icon{display:block;width:100%;height:100%;-webkit-transition:none;-o-transition:none;transition:none;background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'24\' height=\'25\' fill=\'none\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath fill-rule=\'evenodd\' d=\'M22.894 11.095h-9.726V1.369A1.17 1.17 0 0 0 11.938.266a1.17 1.17 0 0 0-1.103 1.103v9.729H1.106a1.17 1.17 0 0 0-1.103 1.229 1.17 1.17 0 0 0 1.103 1.103h9.729v9.729a1.17 1.17 0 0 0 1.229 1.103 1.17 1.17 0 0 0 1.103-1.103V13.43h9.729A1.17 1.17 0 0 0 24 12.201c-.034-.598-.509-1.072-1.106-1.107z\' fill=\'%2306F\'/%3E%3C/svg%3E');background-repeat:no-repeat;background-position:center;background-size:18px}.menu--open .site-header .main-navigation .sub-menu-view[data-expanded=true] .icon{-webkit-transform:rotate(45deg);-ms-transform:rotate(45deg);transform:rotate(45deg);background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'24\' height=\'25\' fill=\'none\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath fill-rule=\'evenodd\' d=\'M22.894 11.095h-9.726V1.369A1.17 1.17 0 0 0 11.938.266a1.17 1.17 0 0 0-1.103 1.103v9.729H1.106a1.17 1.17 0 0 0-1.103 1.229 1.17 1.17 0 0 0 1.103 1.103h9.729v9.729a1.17 1.17 0 0 0 1.229 1.103 1.17 1.17 0 0 0 1.103-1.103V13.43h9.729A1.17 1.17 0 0 0 24 12.201c-.034-.598-.509-1.072-1.106-1.107z\' fill=\'%23B0B6CA\'/%3E%3C/svg%3E')}.menu--open .site-header .main-navigation .sub-menu-view[data-expanded=true]+.sub-menu__wrap{display:block;opacity:1}.menu--open .site-header .main-navigation .sub-menu-view[data-expanded=false] .icon{-webkit-transform:none!important;-ms-transform:none!important;transform:none!important}.menu--open .site-header .main-navigation .sub-menu-view[data-expanded=false]+.sub-menu__wrap{display:none!important}@media (max-width:769px){.menu--open .site-header .site-branding{height:61px}}@media (min-width:1281px){.menu--open .site-header .wrap{max-width:1232px}}@media (min-width:768px) and (max-width:1280px){.menu--open .site-header .wrap{max-width:1224px}}@media (min-width:768px){.menu--open .site-header .site-branding{position:static;border-bottom:none}.menu--open .site-header .main-navigation{margin-right:36px;padding-top:15px}.menu--open .site-header .main-navigation::-webkit-scrollbar{width:2px;height:2px}.menu--open .site-header .main-navigation .menu-primary-container{position:relative;overflow-x:hidden;overflow-y:auto;margin-bottom:20px}.menu--open .site-header .main-navigation .menu-primary-container .menu{height:auto}.menu--open .site-header .main-navigation .menu-primary-container .menu .menu-item{width:42%;min-width:340px;margin-bottom:15px;border:none;border:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .menu-item a{font-size:1rem;line-height:1.25rem;max-width:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap{position:absolute;top:0;left:45%;padding-left:70px;border-top:0;border-left:1px solid #d1d5e4}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item{min-width:auto;min-height:50px;margin:0;text-transform:none;border-bottom:1px solid #d1d5e4}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item a{font-size:1rem;line-height:1.25rem;min-height:50px;margin:0}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu-view{width:64px;height:50px;border-left:1px solid #d1d5e4}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu-view .icon{background-size:24px}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__title{font-size:2.5rem;line-height:3.125rem;display:-webkit-box;display:-ms-flexbox;display:flex;margin-bottom:60px;text-transform:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-item .sub-menu-view .icon{-webkit-transform:rotate(45deg);-ms-transform:rotate(45deg);transform:rotate(45deg)}.menu--open .site-header .main-navigation .menu-primary-container .menu .current-menu-item .sub-menu__wrap{display:block;border-top:none}.menu--open .site-header .second-main-navigation{display:-webkit-box;display:-ms-flexbox;display:flex;width:100%;min-height:100px;margin-bottom:70px;padding:25px 20px 10px 0;text-transform:uppercase;background:#fff;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--open .site-header .second-main-navigation .site-lang{margin-right:50px}.menu--open .site-header .second-main-navigation .site-contact{margin-right:50px}.menu--open .site-header .second-main-navigation .site-contact a{font-size:.75rem;line-height:1.125rem;min-height:auto;margin:0}.menu--open .site-header .second-main-navigation .site-social{display:-webkit-box;display:-ms-flexbox;display:flex;margin:0}.menu--open .site-header .second-main-navigation .site-social .icon{width:18px;height:18px}.menu--open .site-header .second-main-navigation .site-social a:focus .icon,.menu--open .site-header .second-main-navigation .site-social a:hover .icon{fill:#5e9eff}.menu--open .site-header .second-main-navigation .site-social .list__item{margin-right:30px}.menu--open .site-header .second-main-navigation .site-social .list__item .icon{fill:#06f}}.menu--openLang .menu-item,.menu--openLang .second-main-navigation{display:none!important}.menu--openLang .mlp-language-nav-item{display:-webkit-box!important;display:-ms-flexbox!important;display:flex!important;border-bottom:1px solid #ccc}.menu--openLang .site-header .site-options{display:block}.menu--openLang .site-header .site-search,.menu--openLang .site-header .stock{display:none}.menu--openLang .site-header .site-lang{margin-left:0}.menu--openLang .site-header .site-lang a{font-family:Telefonica-sans-medium;font-size:1rem;display:-webkit-box;display:-ms-flexbox;display:flex;width:100%;max-width:240px;max-width:none;height:auto;min-height:60px;margin-left:25px;padding-top:4px;letter-spacing:.05em;pointer-events:all;color:#031a34;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--openLang .site-header .site-lang ul{flex-direction:column;-webkit-box-orient:vertical;-webkit-box-direction:normal;-ms-flex-direction:column}.menu--openLang .site-header .site-lang ul li{width:100%;min-width:auto;height:auto;min-height:auto;border:none;border-bottom:1px solid #f2f4ff;border-radius:0;-webkit-box-pack:start;-ms-flex-pack:start;justify-content:flex-start}.menu--openLang .site-header .site-lang ul li::after{content:none}.second-navigation{display:none}.menu--lang .site-header .site-options{display:block;padding:0}.menu--lang .site-header .site-lang{display:block;margin:0}.menu--lang .site-header .site-lang ul{flex-direction:column;-webkit-box-orient:vertical;-webkit-box-direction:normal;-ms-flex-direction:column;-webkit-box-align:start;-ms-flex-align:start;align-items:flex-start}.menu--lang .site-header .site-lang ul li{display:-webkit-box;display:-ms-flexbox;display:flex;width:100%;height:auto;padding:0;border-bottom:1px solid #f2f4ff;border-radius:0}.menu--lang .site-header .site-lang ul li a{font-size:1rem;display:-webkit-box;display:-ms-flexbox;display:flex;width:100%;min-height:66px;padding:0 25px;color:#414b61;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--lang .site-header .site-lang ul li.mlp-current-language-item{border:none;border-bottom:1px solid #f2f4ff;border-radius:0;background-image:url('data:image/svg+xml,%0A%3Csvg xmlns=\'http://www.w3.org/2000/svg\' width=\'240\' height=\'241\' fill=\'%232593B5\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath d=\'M119.97 225.952c-33.449 0-59.459-8.73-77.309-25.95-18.54-17.85-27.93-44.52-27.93-79.29s9.39-61.47 27.93-79.35c17.85-17.22 43.89-25.98 77.31-25.98 33.45 0 59.46 8.73 77.34 25.95 18.57 17.88 27.96 44.58 27.96 79.35s-9.42 61.44-27.96 79.32c-17.88 17.22-43.89 25.95-77.34 25.95zm0-198.9c-62.099 0-93.599 31.5-93.599 93.66 0 62.1 31.5 93.6 93.6 93.6 62.13 0 93.66-31.5 93.66-93.6 0-62.13-31.53-93.66-93.66-93.66zm-15.298 140.1c-1.68 0-3.27-.75-4.32-2.07l-28.26-35.52c-1.89-2.37-1.5-5.85.87-7.74s5.85-1.5 7.74.87l23.82 29.94 57.51-76.98c1.83-2.43 5.28-2.94 7.71-1.11s2.94 5.28 1.11 7.71l-61.74 82.68a5.47 5.47 0 0 1-4.32 2.22h-.12z\'/%3E%3C/svg%3E');background-repeat:no-repeat;background-position:right 25px center;background-size:24px}.menu--lang .site-header .menu-primary-container,.menu--lang .site-header .site-search,.menu--lang .site-header .stock{display:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .current_page_ancestor{border-bottom:0}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children{flex-direction:row;-webkit-box-orient:horizontal;-webkit-box-direction:normal;-ms-flex-direction:row}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .menu-item,.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu{width:100%}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu{display:none;background:#f2f4ff}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu .menu-item{position:relative;padding:0 25px;border-bottom:none!important}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu .menu-item a{font-size:.875rem}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu .menu-item::before{position:absolute;bottom:0;left:0;width:100%;height:4px;content:'';background:#fff}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-menu .menu-item:last-of-type:before{height:0}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view{display:-webkit-box;display:-ms-flexbox;display:flex;width:75px;height:60px;cursor:pointer;border:none;border-left:1px solid #f2f4ff;background-color:transparent;-moz-appearance:none;appearance:none;-webkit-appearance:none;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view .dd-icon{display:block;width:18px;height:10px;background-image:url('data:image/svg+xml,%3Csvg width=\'14\' height=\'10\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M0 1.687a.76.76 0 0 1 .25-.56.79.79 0 0 1 1.099.044l5.703 6.036 5.594-6.032a.791.791 0 0 1 1.1-.05c.31.273.342.745.069 1.056l-.016.018-6.165 6.645a.778.778 0 0 1-.572.25.784.784 0 0 1-.576-.244L.207 2.203A.743.743 0 0 1 0 1.687Z\' fill=\'%2306f\'/%3E%3C/svg%3E');background-repeat:no-repeat;background-position:center;background-size:18px}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view[data-expanded=true] .dd-icon,.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children a[aria-current=page]+button .dd-icon{background-image:url('data:image/svg+xml,%3Csvg width=\'14\' height=\'10\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M0 1.687a.76.76 0 0 1 .25-.56.79.79 0 0 1 1.099.044l5.703 6.036 5.594-6.032a.791.791 0 0 1 1.1-.05c.31.273.342.745.069 1.056l-.016.018-6.165 6.645a.778.778 0 0 1-.572.25.784.784 0 0 1-.576-.244L.207 2.203A.743.743 0 0 1 0 1.687Z\' fill=\'%23B0B6CA\'/%3E%3C/svg%3E')}@media (min-width:768px){.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view{width:40px;height:auto;padding:5px 0;-webkit-box-pack:end;-ms-flex-pack:end;justify-content:flex-end}}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view[data-expanded=true] .dd-icon{-webkit-transform:rotate(180deg);-ms-transform:rotate(180deg);transform:rotate(180deg);background-image:url('data:image/svg+xml,%3Csvg width=\'14\' height=\'10\' fill=\'none\' xmlns=\'http://www.w3.org/2000/svg\'%3E%3Cpath fill-rule=\'evenodd\' clip-rule=\'evenodd\' d=\'M0 1.687a.76.76 0 0 1 .25-.56.79.79 0 0 1 1.099.044l5.703 6.036 5.594-6.032a.791.791 0 0 1 1.1-.05c.31.273.342.745.069 1.056l-.016.018-6.165 6.645a.778.778 0 0 1-.572.25.784.784 0 0 1-.576-.244L.207 2.203A.743.743 0 0 1 0 1.687Z\' fill=\'%23B0B6CA\'/%3E%3C/svg%3E')}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view[data-expanded=true]~.sub-menu{display:block}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view[data-expanded=false]~.sub-menu{display:none}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children .sub-sub-menu-view[data-expanded=false] .dd-icon{-webkit-transform:none!important;-ms-transform:none!important;transform:none!important}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children.current-menu-parent .sub-sub-menu-view .dd-icon{-webkit-transform:rotate(180deg);-ms-transform:rotate(180deg);transform:rotate(180deg)}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children.current-menu-parent .sub-sub-menu-view[data-expanded=false] .dd-icon{-webkit-transform:none!important;-ms-transform:none!important;transform:none!important}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .menu-item-has-children.current-menu-parent .sub-menu{display:block}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .current_page_item .sub-menu{display:block}.menu--open .site-header .main-navigation .menu-primary-container .menu .sub-menu__wrap .sub-menu .current_page_item .dd-icon{-webkit-transform:rotate(180deg);-ms-transform:rotate(180deg);transform:rotate(180deg)}.only-menu-open{display:none}.menu--open .only-menu-open{display:block}.search-no-results .tf-searcher__back,.search-results .tf-searcher__back{display:block}.search-no-results .tf-searcher__toggle,.search-results .tf-searcher__toggle{display:none}.search-no-results .tf-searcher__control,.search-results .tf-searcher__control{font-size:1rem;padding-left:10px}.search-no-results .tf-searcher__icon,.search-results .tf-searcher__icon{width:18px;min-width:18px;height:18px}.search-no-results .tf-searcher__buttons .icon,.search-results .tf-searcher__buttons .icon{width:18px;min-width:18px;height:18px}@media (min-width:768px){.search-no-results .tf-searcher__control,.search-results .tf-searcher__control{font-size:1.375rem}.search-no-results .tf-searcher__icon,.search-results .tf-searcher__icon{width:36px;min-width:36px;height:36px}.search-no-results .tf-searcher__buttons .icon,.search-results .tf-searcher__buttons .icon{width:28px;min-width:28px;height:28px}}#tf-searcher--top{margin-top:-65px;margin-bottom:0;border-top:none}#tf-searcher--top.tf-searcher--open{margin-top:0}@media (min-width:768px){#tf-searcher--top{margin-top:-113px}#tf-searcher--top .tf-searcher__control{font-size:1.375rem;padding-left:16px}#tf-searcher--top .tf-searcher__icon{width:36px;min-width:36px;height:36px}#tf-searcher--top .tf-searcher__buttons .icon{width:28px;min-width:28px;height:28px;stroke:none}}.tf-searcher{display:-webkit-box;display:-ms-flexbox;display:flex;height:65px;padding:0 15px;-webkit-transition:all .2s ease-in-out;-o-transition:all .2s ease-in-out;transition:all .2s ease-in-out;border-top:1px solid #f2f4ff;border-bottom:1px solid #f2f4ff;background:#fff;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center}.tf-searcher__wrap{display:-webkit-box;display:-ms-flexbox;display:flex;width:100%;max-width:1224px;height:inherit;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.tf-searcher__control{font-family:Telefonica-sans-regular;font-size:1rem;line-height:1.875rem;width:100%;margin:0;padding-left:10px;border:0;border-radius:0;background-repeat:no-repeat;background-position:28px center;background-size:18px;-webkit-appearance:none;caret-color:#06f;caret-color:#06f}.tf-searcher__control::-webkit-search-cancel-button{width:18px;height:18px;cursor:pointer;background-image:url('data:image/svg+xml,%3Csvg xmlns=\'http://www.w3.org/2000/svg\' viewBox=\'0 0 26 26\' xmlns:v=\'https://vecta.io/nano\'%3E%3Cpath d=\'M14.061 13L24.78 2.28A.75.75 0 0 0 23.72 1.22L13 11.939 2.28 1.22A.75.75 0 0 0 1.22 2.28L11.939 13 1.22 23.72a.75.75 0 0 0 0 1.061c.146.146.338.22.53.22s.384-.073.53-.22L13 14.061l10.72 10.72c.146.146.338.22.53.22s.384-.073.53-.22a.75.75 0 0 0 0-1.061L14.061 13z\' fill=\'%23003245\'/%3E%3C/svg%3E');background-repeat:no-repeat;background-position:0 center;background-size:18px;-webkit-appearance:none}.tf-searcher__control:focus{color:#58617a;border:0}.tf-searcher__control:-moz-placeholder-shown{color:#58617a}.tf-searcher__control:-ms-input-placeholder{color:#58617a}.tf-searcher__control:placeholder-shown{color:#58617a}.tf-searcher__control::-webkit-search-cancel-button{display:none}.tf-searcher__control .button[type=submit] .icon{width:24px;height:24px}.tf-searcher__icon{width:18px;min-width:18px;height:18px;fill:#b0b6ca}.tf-searcher__buttons{display:-webkit-box;display:-ms-flexbox;display:flex;height:100%;-webkit-box-align:center;-ms-flex-align:center;align-items:center}.tf-searcher__buttons button{min-width:auto;height:100%;padding:0 0 0 15px;border-bottom:1px solid #f2f4ff;border-radius:0;background:0 0}.tf-searcher__buttons button .icon{width:18px;height:18px}.tf-searcher__buttons button:hover .icon{fill:#5e9eff}.tf-searcher__buttons .tf-searcher__submit{padding-right:15px}.tf-searcher__buttons .tf-searcher__toggle{border-left:1px solid #f2f4ff}.tf-searcher__back{display:none;border-left:1px solid #f2f4ff}.tf-searcher--nbt{border-top:none}.tf-searcher--nbt .tf-searcher__submit{width:18px;height:18px}@media (min-width:768px){.tf-searcher{height:113px}.tf-searcher .tf-searcher__buttons{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-transition:opacity 3s linear;-o-transition:opacity 3s linear;transition:opacity 3s linear;opacity:1}.tf-searcher .tf-searcher__buttons button{min-width:auto;padding:0 45px}.tf-searcher .tf-searcher__buttons button.tf-searcher__toggle{padding:0 0 0 45px}.tf-searcher .tf-searcher__buttons button .icon{height:28px;height:28px}.tf-searcher__control{background-position:0 center;background-size:24px}.tf-searcher--main{height:113px}.tf-searcher--main .tf-searcher__control{font-family:Telefonica-sans-regular;font-size:1.375rem;line-height:1.5625rem;background-size:36px;caret-color:#fff}.tf-searcher--main .tf-searcher__buttons button .icon{width:28px;height:28px}.tf-searcher--nbt{height:65px}.tf-searcher--nbt .tf-searcher__buttons button{border:none}.tf-searcher--nbt .tf-searcher__buttons button.tf-searcher__submit{width:24px;height:24px;padding-right:10px}}.tf-searcher input~.tf-searcher__buttons .button[type=submit]{visibility:visible}.tf-searcher input:-moz-placeholder-shown~.tf-searcher__buttons .button[type=submit]{visibility:hidden}.tf-searcher input:-ms-input-placeholder~.tf-searcher__buttons .button[type=submit]{visibility:hidden}.tf-searcher input:placeholder-shown~.tf-searcher__buttons .button[type=submit]{visibility:hidden}</style><link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='convert-plus-info-bar-style' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/info_bar/assets/css/info_bar.min.css?ver=3.5.29' type='text/css' media='all' /> <script src="https://www.telefonica.com/en/wp-content/plugins/telefonica-newsletter/js/manageSubscriptions.min.js?ver=1728553399" id="manage-subscriptions-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-includes/js/jquery/jquery.min.js?ver=3.7.1" id="jquery-core-js" defer></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/eventos-functions.min.js?ver=1729684022" id="eventos-functions-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/audioplayer.min.js?ver=1721047365" id="audioplayer-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/new-videoplayer.min.js?ver=1705939214" id="new-videoplayer-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/onload.min.js?ver=1729238568" id="onload-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/scroll-menu.min.js?ver=1705939214" id="scroll-menu-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/searcher.min.js?ver=1705939214" id="searcher-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/tabs.min.js?ver=1729763912" id="tabs-tel-js" defer></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/toggle-nav.min.js?ver=1709566124" id="toggle-nav-tel-js" defer></script> <script src="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/js/tooltip.min.js?ver=1729763912" id="tooltip-tel-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <link rel="alternate" title="oEmbed (JSON)" type="application/json+oembed" href="https://www.telefonica.com/en/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.telefonica.com%2Fen%2Fshareholders-investors%2Fcorporate-governance%2Fpolicies%2F" /><link rel="alternate" title="oEmbed (XML)" type="text/xml+oembed" href="https://www.telefonica.com/en/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.telefonica.com%2Fen%2Fshareholders-investors%2Fcorporate-governance%2Fpolicies%2F&format=xml" /><meta name="google-site-verification" content="bgmzuH12YUyZuB_Xcz2yeRC07DEqL4_JD6KqfnLdnKg" /><link rel="alternate" hreflang="en" href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/"><link rel="alternate" hreflang="es" href="https://www.telefonica.com/es/accionistas-inversores/gobierno-corporativo/politicas/"><style>img#wpstats{display:none}</style><link rel="preconnect" href="https://dev.visualwebsiteoptimizer.com" /> <script type='text/plain' id='vwoCode' class='cookielaw optanon-category-C0002'>window._vwo_code || (function() { var account_id=911138, version=2.1, settings_tolerance=2000, hide_element='body', hide_element_style = 'opacity:0 !important;filter:alpha(opacity=0) !important;background:none !important;transition:none !important;', /* DO NOT EDIT BELOW THIS LINE */ f=false,w=window,d=document,v=d.querySelector('#vwoCode'),cK='_vwo_'+account_id+'_settings',cc={};try{var c=JSON.parse(localStorage.getItem('_vwo_'+account_id+'_config'));cc=c&&typeof c==='object'?c:{}}catch(e){}var stT=cc.stT==='session'?w.sessionStorage:w.localStorage;code={nonce:v&&v.nonce,use_existing_jquery:function(){return typeof use_existing_jquery!=='undefined'?use_existing_jquery:undefined},library_tolerance:function(){return typeof library_tolerance!=='undefined'?library_tolerance:undefined},settings_tolerance:function(){return cc.sT||settings_tolerance},hide_element_style:function(){return'{'+(cc.hES||hide_element_style)+'}'},hide_element:function(){if(performance.getEntriesByName('first-contentful-paint')[0]){return''}return typeof cc.hE==='string'?cc.hE:hide_element},getVersion:function(){return version},finish:function(e){if(!f){f=true;var t=d.getElementById('_vis_opt_path_hides');if(t)t.parentNode.removeChild(t);if(e)(new Image).src='https://dev.visualwebsiteoptimizer.com/ee.gif?a='+account_id+e}},finished:function(){return f},addScript:function(e){var t=d.createElement('script');t.type='text/javascript';if(e.src){t.src=e.src}else{t.text=e.text}v&&t.setAttribute('nonce',v.nonce);d.getElementsByTagName('head')[0].appendChild(t)},load:function(e,t){var n=this.getSettings(),i=d.createElement('script'),r=this;t=t||{};if(n){i.textContent=n;d.getElementsByTagName('head')[0].appendChild(i);if(!w.VWO||VWO.caE){stT.removeItem(cK);r.load(e)}}else{var o=new XMLHttpRequest;o.open('GET',e,true);o.withCredentials=!t.dSC;o.responseType=t.responseType||'text';o.onload=function(){if(t.onloadCb){return t.onloadCb(o,e)}if(o.status===200||o.status===304){_vwo_code.addScript({text:o.responseText})}else{_vwo_code.finish('&e=loading_failure:'+e)}};o.onerror=function(){if(t.onerrorCb){return t.onerrorCb(e)}_vwo_code.finish('&e=loading_failure:'+e)};o.send()}},getSettings:function(){try{var e=stT.getItem(cK);if(!e){return}e=JSON.parse(e);if(Date.now()>e.e){stT.removeItem(cK);return}return e.s}catch(e){return}},init:function(){if(d.URL.indexOf('__vwo_disable__')>-1)return;var e=this.settings_tolerance();w._vwo_settings_timer=setTimeout(function(){_vwo_code.finish();stT.removeItem(cK)},e);var t;if(this.hide_element()!=='body'){t=d.createElement('style');var n=this.hide_element(),i=n?n+this.hide_element_style():'',r=d.getElementsByTagName('head')[0];t.setAttribute('id','_vis_opt_path_hides');v&&t.setAttribute('nonce',v.nonce);t.setAttribute('type','text/css');if(t.styleSheet)t.styleSheet.cssText=i;else t.appendChild(d.createTextNode(i));r.appendChild(t)}else{t=d.getElementsByTagName('head')[0];var i=d.createElement('div');i.style.cssText='z-index: 2147483647 !important;position: fixed !important;left: 0 !important;top: 0 !important;width: 100% !important;height: 100% !important;background: white !important;';i.setAttribute('id','_vis_opt_path_hides');i.classList.add('_vis_hide_layer');t.parentNode.insertBefore(i,t.nextSibling)}var o=window._vis_opt_url||d.URL,s='https://dev.visualwebsiteoptimizer.com/j.php?a='+account_id+'&u='+encodeURIComponent(o)+'&vn='+version;if(w.location.search.indexOf('_vwo_xhr')!==-1){this.addScript({src:s})}else{this.load(s+'&x=true')}}};w._vwo_code=code;code.init();})();</script> <script type='text/plain' class='highcharts optanon-category-C0002'>window.VWO = window.VWO || []; window.VWO.init = window.VWO.init || function(state) { window.VWO.consentState = state; } window.VWO.init(1);</script> </head><body class="page-template-default page page-id-23814 page-child parent-pageid-208" > <noscript><iframe src="ns " height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div id="page" class="site"> <a class="skip-link screen-reader-text" href="#primary">Skip to content</a><header id="masthead" class="site-header "><div class="tf-searcher" id="tf-searcher--top"><form class="tf-searcher__wrap" role="search" method="get" action="https://www.telefonica.com/en"> <svg class="icon tf-searcher__icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#magnifier"></use> </svg> <label class="hide-a11y" for="tf-searcher__control--top">Buscar</label> <input class="tf-searcher__control" id="tf-searcher__control--top" placeholder="Look for something at telefonica.com" value="" name="s" type="search" autocomplete="off"><div class="tf-searcher__buttons"> <button class="button tf-searcher__submit" type="submit" aria-label="Buscar"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#arrow-right"></use> </svg> </button> <button class="button tf-searcher__toggle tf-main-search" type="button" aria-label="Cerrar"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#close"></use> </svg> </button> <button class="button tf-searcher__back" type="button" aria-label="Volver"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#close"></use> </svg> </button></div></form></div><div class="wrap"><style>.site-title{display:flex;gap:.5em;align-items: center;}</style><div class="site-branding"><div class="site-title"> <a href="https://www.telefonica.com/en/" rel="home"><span class="hide-a11y">Telefónica</span> <svg class="site-branding__logo"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#isotype-text"></use></svg> </a></div><p class="hide-a11y site-description">Telefonica.com</p></div><div class="site-options"><div class="item-option stock"> <a class="stock__link" href="https://www.telefonica.com/en/shareholders-investors/share/"> <svg class="icon stock__icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#stock"/> </svg><div class="stock__iframe"><div class="stock__action"></div> <iframe title="Info BME" height="20px" src="https://tools.eurolandir.com/tools/ticker/html/?companycode=es-tde&v=scrolling2021&lang=es-ES"></iframe></div> </a></div><div class="item-option site-lang"><div class="menu-languages-container"><ul id="Language" class="menu"><li id="menu-item-351" class="site-id-4 mlp-language-nav-item menu__item menu-item menu-item-type-mlp_language menu-item-object-mlp_language menu-item-351"><a rel="alternate" href="https://www.telefonica.com/es/accionistas-inversores/gobierno-corporativo/politicas/" lang="es-ES">ES</a></li><li id="menu-item-350" class="site-id-5 mlp-language-nav-item menu__item menu-item menu-item-type-mlp_language menu-item-object-mlp_language mlp-current-language-item menu-item-350"><a rel="alternate" href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/" lang="en-GB">EN</a></li></ul></div></div><div class="item-option site-search"> <button class="button button--flat tf-main-search" aria-label="Abrir/cerrar buscador"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#magnifier"/> </svg> </button></div></div><nav id="site-navigation" class="main-navigation"><div class="menu-primary-container"><ul id="primary-menu" class="menu"><li id="menu-item-13209" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-13209"><a href="https://www.telefonica.com/en/">Home</a></li><li id="menu-item-144" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-144"><a href="https://www.telefonica.com/en/about-us/">About us</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">About us</div><ul class="sub-menu"><li id="menu-item-24703" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24703"><a href="https://www.telefonica.com/en/about-us/mission/">Mission</a></li><li id="menu-item-13211" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-13211"><a href="https://www.telefonica.com/en/about-us/strategy/">Strategy</a></li><li id="menu-item-24687" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24687"><a href="https://www.telefonica.com/en/about-us/main-data/">Main data</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25728" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25728"><a href="https://www.telefonica.com/en/about-us/main-data/executive-team/">Executive Team</a></li><li id="menu-item-25729" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25729"><a href="https://www.telefonica.com/en/about-us/main-data/history/">History</a></li></ul></li><li id="menu-item-24711" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24711"><a href="https://www.telefonica.com/en/about-us/public-policy-and-regulation/">Public Policy and Regulation</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25733" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25733"><a href="https://www.telefonica.com/en/about-us/public-policy-and-regulation/digital-deal/">Digital Deal</a></li><li id="menu-item-25730" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25730"><a href="https://www.telefonica.com/en/about-us/public-policy-and-regulation/telefonica-policy-lab/">Telefónica Policy Lab</a></li><li id="menu-item-25731" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25731"><a href="https://www.telefonica.com/en/about-us/public-policy-and-regulation/public-positioning/">Public positioning</a></li><li id="menu-item-25732" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25732"><a href="https://www.telefonica.com/en/about-us/public-policy-and-regulation/public-consultations/">Public Consultations</a></li></ul></li><li id="menu-item-28715" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-28715"><a href="https://www.telefonica.com/en/about-us/brands/">Brands</a></li><li id="menu-item-24698" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24698"><a href="https://www.telefonica.com/en/about-us/countries-emerging-business-units/">Countries and Emerging Business Units</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-57438" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-57438"><a target="_blank" rel="noopener" href="https://www.telefonica.com/en/t-infra/">Telefónica Infra<img style="width: 15px; height: auto; margin-left: 5px;" src="https://www.telefonica.com/es/wp-content/uploads/sites/4/2023/02/arrow-line-up-right-icon.svg" alt="flecha arriba derecha" /></a></li></ul></li><li id="menu-item-24708" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24708"><a href="https://www.telefonica.com/en/about-us/analysts/">Analyst Relations</a></li><li id="menu-item-24700" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24700"><a href="https://www.telefonica.com/en/about-us/suppliers/">Suppliers</a></li><li id="menu-item-24722" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24722"><a href="https://www.telefonica.com/en/about-us/partnerships/">Partnerships</a></li><li id="menu-item-24723" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24723"><a href="https://www.telefonica.com/en/contact-us/">Contact us</a></li><li id="menu-item-55405" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-55405"><a href="https://www.telefonica.com/en/about-us/solidarity/">We are in solidarity</a></li></ul></div></li><li id="menu-item-145" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-145"><a href="https://www.telefonica.com/en/sustainability-innovation/">Sustainability and Innovation</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Sustainability and Innovation</div><ul class="sub-menu"><li id="menu-item-24726" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24726"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/">How we work</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25734" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25734"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/business-principles/">Business Principles and Policies</a></li><li id="menu-item-25735" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25735"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/sustainability-strategy/">Sustainability Strategy</a></li><li id="menu-item-25736" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25736"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/value-chain/">Value chain</a></li><li id="menu-item-25737" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25737"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/compliance/">Compliance</a></li></ul></li><li id="menu-item-13213" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-13213"><a href="https://www.telefonica.com/en/sustainability-innovation/society/">Society</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25738" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25738"><a href="https://www.telefonica.com/en/sustainability-innovation/society/human-rights/">Human Rights</a></li><li id="menu-item-25739" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25739"><a href="https://www.telefonica.com/en/sustainability-innovation/society/digital-inclusion/">Digital inclusion</a></li><li id="menu-item-25740" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25740"><a href="https://www.telefonica.com/en/sustainability-innovation/society/accessibility/">Accessibility</a></li><li id="menu-item-25741" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25741"><a href="https://www.telefonica.com/en/sustainability-innovation/society/minors-and-responsible-use/">Minors and responsible use</a></li><li id="menu-item-54145" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-54145"><a href="https://www.telefonica.com/en/sustainability-innovation/society/sustainable-development-goals-sdgs/">Sustainable Development Goals: Impact & SDGs</a></li></ul></li><li id="menu-item-13214" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-13214"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/">Environment</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25742" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25742"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/environmental-responsibility/">Environmental Responsibility</a></li><li id="menu-item-25743" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25743"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/energy-and-climate-change/">Energy and climate change</a></li><li id="menu-item-25744" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25744"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/circular-economy/">Circular Economy</a></li><li id="menu-item-25745" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25745"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/green-digitalisation/">Green digitalisation</a></li><li id="menu-item-25746" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25746"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/electromagnetic-fields/">Electromagnetic fields</a></li></ul></li><li id="menu-item-24727" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24727"><a href="https://www.telefonica.com/en/sustainability-innovation/innovation/">Innovation</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25752" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25752"><a href="https://www.telefonica.com/en/sustainability-innovation/innovation/wayra/">Wayra</a></li><li id="menu-item-25755" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25755"><a href="https://www.telefonica.com/en/sustainability-innovation/innovation/innovation-with-public-aid/">Innovation with public aid</a></li><li id="menu-item-55535" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-55535"><a href="https://www.telefonica.com/en/sustainability-innovation/innovation/discovering-the-digital-vanguard/">Discovering the digital vanguard</a></li></ul></li><li id="menu-item-24728" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24728"><a href="https://www.telefonica.com/en/whistleblowing-queries-channel/">Whistleblowing and Queries Channel</a></li><li id="menu-item-49252" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-49252"><a target="_blank" rel="noopener" href="https://www.telefonica.com/en/global-transparency-center/">Privacy and Security<img style="width: 15px; height: auto; margin-left: 5px;" src="https://www.telefonica.com/es/wp-content/uploads/sites/4/2023/02/arrow-line-up-right-icon.svg" alt="flecha arriba derecha" /></a></li></ul></div></li><li id="menu-item-146" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-146"><a href="https://www.telefonica.com/en/services/">Services</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Services</div><ul class="sub-menu"><li id="menu-item-24733" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24733"><a href="https://www.telefonica.com/en/services/business-services/">Business Services</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25767" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25767"><a href="https://www.telefonica.com/en/services/business-services/sme/">SME</a></li><li id="menu-item-25768" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25768"><a href="https://www.telefonica.com/en/services/business-services/corporate/">Corporate</a></li></ul></li><li id="menu-item-24735" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24735"><a href="https://www.telefonica.com/en/services/consumers/">Consumers</a></li><li id="menu-item-24712" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24712"><a href="https://www.telefonica.com/en/services/networks-and-technology/">Networks and technology</a></li></ul></div></li><li id="menu-item-287" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-287"><a href="https://www.telefonica.com/en/communication-room/">Communication room</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Communication room</div><ul class="sub-menu"><li id="menu-item-24741" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-24741"><a href="https://www.telefonica.com/en/communication-room/news/">News</a></li><li id="menu-item-24742" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-24742"><a href="https://www.telefonica.com/en/communication-room/press-room/">Press room</a></li><li id="menu-item-24740" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-24740"><a href="https://www.telefonica.com/en/communication-room/blog/">Blog</a></li><li id="menu-item-24743" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-24743"><a href="https://www.telefonica.com/en/communication-room/reports/">Reports</a></li><li id="menu-item-24744" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24744"><a href="https://www.telefonica.com/en/contact-us/telefonica-in-social-networks/">Social Networks</a></li></ul></div></li><li id="menu-item-148" class="shareholders menu-item menu-item-type-post_type menu-item-object-page current-page-ancestor current-menu-ancestor current_page_ancestor menu-item-has-children menu-item-148"><a href="https://www.telefonica.com/en/shareholders-investors/">Shareholders and Investors</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Shareholders and Investors</div><ul class="sub-menu"><li id="menu-item-24070" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24070"><a href="https://www.telefonica.com/en/shareholders-investors/share/">Share</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25775" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25775"><a href="https://www.telefonica.com/en/shareholders-investors/share/reasons-to-invest-in-telefonica/">Reasons to invest in Telefónica</a></li><li id="menu-item-25776" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25776"><a href="https://www.telefonica.com/en/shareholders-investors/share/telefonica-on-the-stock-exchanges/">Telefónica on the Stock Exchanges</a></li><li id="menu-item-25777" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25777"><a href="https://www.telefonica.com/en/shareholders-investors/share/investment-calculator/">Investment calculator</a></li><li id="menu-item-25778" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25778"><a href="https://www.telefonica.com/en/shareholders-investors/share/historic-share-price-data/">Historic share price data</a></li><li id="menu-item-25876" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25876"><a href="https://www.telefonica.com/en/shareholders-investors/share/adr-program/">ADR Program</a></li><li id="menu-item-25779" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25779"><a href="https://www.telefonica.com/en/shareholders-investors/share/share-capital/">Share Capital</a></li><li id="menu-item-25780" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25780"><a href="https://www.telefonica.com/en/shareholders-investors/share/significant-shareholdings/">Significant Shareholdings</a></li><li id="menu-item-25781" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25781"><a href="https://www.telefonica.com/en/shareholders-investors/share/dividend-policy/">Dividend Policy</a></li><li id="menu-item-25782" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25782"><a href="https://www.telefonica.com/en/shareholders-investors/share/dividend-history/">Dividend history</a></li><li id="menu-item-25783" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25783"><a href="https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/">Analysts’ Recommendations and Coverage</a></li></ul></li><li id="menu-item-24067" class="financial_reports menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24067"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/">Financial reports</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25786" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25786"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/annual-report/">Annual report</a></li><li id="menu-item-41314" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-41314"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/quarterly-reports/2023/">Quarterly results</a></li><li id="menu-item-25788" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25788"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/consensus/">Consensus</a></li><li id="menu-item-25789" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25789"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/20-f-sec-filing/">20-F SEC Filing</a></li><li id="menu-item-25790" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25790"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/registration-document-cnmv-filing/">Registration Document (CNMV Filing)</a></li><li id="menu-item-25791" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25791"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/filings-foreign-regulators/">Filings with Foreign Regulators</a></li><li id="menu-item-25792" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25792"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/average-payment-period-to-suppliers/">Average payment period to suppliers</a></li><li id="menu-item-25793" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25793"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/presentations/">Presentations</a></li></ul></li><li id="menu-item-45258" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-45258"><a>Non-financial reporting – ESG</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-45259" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-45259"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/sustainability-strategy/#h-esg-telefonica-profile">2023 ESG profile</a></li><li id="menu-item-45260" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-45260"><a href="https://www.telefonica.com/en/shareholders-investors/financial-reports/integrated-annual-report/">2023 Sustainability report and KPIs</a></li><li id="menu-item-45261" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-45261"><a href="https://www.telefonica.com/en/sustainability-innovation/how-we-work/sustainability-strategy/#h-esg-ratings-indexes-rankings">ESG ratings, indexes & rankings</a></li><li id="menu-item-45262" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-45262"><a href="https://www.telefonica.com/en/sustainability-innovation/society/sustainable-development-goals-sdgs/#h-measuring-the-impact">Impact report</a></li><li id="menu-item-50039" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-50039"><a href="https://www.telefonica.com/en/sustainability-innovation/environment/energy-and-climate-change/#h-climate-action-plan">Climate Action Plan</a></li><li id="menu-item-50038" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-50038"><a href="https://www.telefonica.com/en/communication-room/reports/esg-library/">ESG Library</a></li></ul></li><li id="menu-item-24071" class="menu-item menu-item-type-post_type menu-item-object-page current-page-ancestor current-menu-ancestor current-menu-parent current-page-parent current_page_parent current_page_ancestor menu-item-has-children menu-item-24071"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/">Corporate Governance</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25794" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25794"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/board-of-directors/">Board of Directors</a></li><li id="menu-item-25795" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25795"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/board-committees/">Board Committees</a></li><li id="menu-item-25796" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25796"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/general-shareholders-meeting/">General Shareholder’s Meeting</a></li><li id="menu-item-25797" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25797"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/corporate-bylaws-and-regulations/">Company’s Internal Regulations: By-Laws and Regulations</a></li><li id="menu-item-25798" class="menu-item menu-item-type-post_type menu-item-object-page current-menu-item page_item page-item-23814 current_page_item menu-item-25798"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/" aria-current="page">Policies</a></li><li id="menu-item-25799" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25799"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/annual-reports/">Annual Reports on Corporate Governance</a></li><li id="menu-item-25800" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25800"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/annual-reports-on-the-remuneration-of-directors/">Annual Reports on the Remuneration of Directors</a></li><li id="menu-item-25801" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25801"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/external-auditor/">Relationship with the External Auditor</a></li><li id="menu-item-25802" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25802"><a href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/shareholders-agreements/">Shareholders’ Agreements</a></li></ul></li><li id="menu-item-52334" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-52334"><a href="https://www.telefonica.com/en/shareholders-investors/cnmv-communications/">CNMV communications</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25877" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-25877"><a href="https://www.telefonica.com/en/shareholders-investors/cnmv-communications/inside-information/">Inside Information</a></li><li id="menu-item-25878" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-25878"><a href="https://www.telefonica.com/en/shareholders-investors/cnmv-communications/other-relevant-information/">Other Relevant Information</a></li><li id="menu-item-25879" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-25879"><a href="https://www.telefonica.com/en/shareholders-investors/cnmv-communications/significant-events/">Communications prior to 8 February 2020</a></li></ul></li><li id="menu-item-24075" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-24075"><a href="https://www.telefonica.com/en/shareholders-investors/rating/">Debt & Ratings</a><button data-expanded="initial" class="sub-sub-menu-view"><span class="dd-icon"></span></button><ul class="sub-menu"><li id="menu-item-25806" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25806"><a href="https://www.telefonica.com/en/shareholders-investors/rating/credit-ratings/">Credit ratings</a></li><li id="menu-item-25807" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25807"><a href="https://www.telefonica.com/en/shareholders-investors/rating/financing-policy/">Financing Policy</a></li><li id="menu-item-25808" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25808"><a href="https://www.telefonica.com/en/shareholders-investors/rating/debt-detail-evolution/">Debt detail and evolution</a></li><li id="menu-item-25809" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25809"><a href="https://www.telefonica.com/en/shareholders-investors/rating/debt-programs/">Debt and Issuers Programs</a></li><li id="menu-item-25810" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25810"><a href="https://www.telefonica.com/en/shareholders-investors/rating/sustainable-finance/">Sustainable Finance</a></li><li id="menu-item-25811" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25811"><a href="https://www.telefonica.com/en/shareholders-investors/rating/outstanding-interest-bearing-debt/">Outstanding Interest Bearing Debt</a></li><li id="menu-item-25812" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25812"><a href="https://www.telefonica.com/en/shareholders-investors/rating/outstanding-debentures-bonds/">Outstanding Debentures&Bonds of Telefónica S.A. and intrumental companies</a></li></ul></li><li id="menu-item-25416" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25416"><a target="_blank" rel="noopener" href="https://www.telefonica.com/en/shareholders-area/">Shareholder’s Area<img style="width: 15px; height: auto; margin-left: 5px;" src="https://www.telefonica.com/es/wp-content/uploads/sites/4/2023/02/arrow-line-up-right-icon.svg" alt="flecha arriba derecha" /></a></li><li id="menu-item-24076" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24076"><a href="https://www.telefonica.com/en/shareholders-investors/calendar/">Calendar</a></li></ul></div></li><li id="menu-item-149" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-149"><a href="https://www.telefonica.com/en/talent/">Talent</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Talent</div><ul class="sub-menu"><li id="menu-item-24747" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-24747"><a href="https://www.telefonica.com/en/talent/diversity-and-inclusion/">Diversity and inclusion</a></li><li id="menu-item-26363" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-26363"><a target="_blank" rel="noopener" href="https://jobs.telefonica.com/?locale=en_GB">Telefónica Jobs<img style="width: 15px; height: auto; margin-left: 5px;" src="https://www.telefonica.com/es/wp-content/uploads/sites/4/2023/02/arrow-line-up-right-icon.svg" alt="flecha arriba derecha" /></a></li></ul></div></li><li id="menu-item-37751" class="only-menu-open menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-37751"><a href="https://www.telefonica.com/en/thesaurus/">Thesaurus</a><button data-expanded="initial" class="sub-menu-view" aria-label="Abir submenu"><span class="icon"></span> </button><div class="sub-menu__wrap"><div class="heading-3 sub-menu__title">Thesaurus</div><ul class="sub-menu"><li id="menu-item-64526" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-64526"><a href="https://www.telefonica.com/en/autores/">Authors</a></li><li id="menu-item-64525" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-64525"><a href="https://www.telefonica.com/en/tag/">Tags</a></li></ul></div></li><li id="menu-item-55628" class="only-menu-open menu-item menu-item-type-custom menu-item-object-custom menu-item-55628"><a href="https://www.telefonica100.com/en">Telefónica Centenary</a></li></ul></div><div id="site-navigation3" class="second-main-navigation"><div class="site-contact"> <a href="https://www.telefonica.com/en/contact-us/">Contact us</a></div><div class="site-lang"><div class="menu-languages-container"><ul id="Language" class="menu"><li class="site-id-4 mlp-language-nav-item menu__item menu-item menu-item-type-mlp_language menu-item-object-mlp_language menu-item-351"><a rel="alternate" href="https://www.telefonica.com/es/accionistas-inversores/gobierno-corporativo/politicas/" lang="es-ES">ES</a></li><li class="site-id-5 mlp-language-nav-item menu__item menu-item menu-item-type-mlp_language menu-item-object-mlp_language mlp-current-language-item menu-item-350"><a rel="alternate" href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/policies/" lang="en-GB">EN</a></li></ul></div></div><ul class="site-social list"><li class="list__item"> <a href="https://www.facebook.com/telefonica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Facebook', 'eventLabel' : 'https://www.facebook.com/telefonica'});" data-vars-event-category='social follow' data-vars-event-action='Facebook' data-vars-event-label='https://www.facebook.com/telefonica' class="list__link GAevent" target="blank"><span class="hide-a11y">facebook</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#facebook"></use></svg></a></li><li class="list__item"> <a href="https://www.linkedin.com/company/telef%C3%B3nica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Linkedin', 'eventLabel' : 'https://www.linkedin.com/company/telef%C3%B3nica'});" data-vars-event-category='social follow' data-vars-event-action='Linkedin' data-vars-event-label='https://www.linkedin.com/company/telef%C3%B3nica' class="list__link GAevent" target="blank"><span class="hide-a11y">linkedin</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#linkedin"></use></svg></a></li><li class="list__item"> <a href="https://twitter.com/Telefonica_en" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Twitter', 'eventLabel' : 'https://twitter.com/Telefonica_en'});" data-vars-event-category='social follow' data-vars-event-action='Twitter' data-vars-event-label='https://twitter.com/Telefonica_en' class="list__link GAevent" target="blank"><span class="hide-a11y">twitter</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#twitter"></use></svg></a></li><li class="list__item"> <a href="https://www.instagram.com/telefonica/" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Instagram', 'eventLabel' : 'https://www.instagram.com/telefonica/'});" data-vars-event-category='social follow' data-vars-event-action='Instagram' data-vars-event-label='https://www.instagram.com/telefonica/' class="list__link GAevent" target="blank"><span class="hide-a11y">instagram</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#instagram"></use></svg></a></li><li class="list__item"> <a href="https://www.youtube.com/user/telefonica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'YouTube', 'eventLabel' : 'https://www.youtube.com/user/telefonica'});" data-vars-event-category='social follow' data-vars-event-action='YouTube' data-vars-event-label='https://www.youtube.com/user/telefonica' class="list__link GAevent" target="blank"><span class="hide-a11y">youtube</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#youtube"></use></svg></a></li></ul></div> <button class="menu-toggle menu-toggle--open button button--flat tf-main-toggle" id="tf-main-toggle" aria-label="Abrir/cerrar menu" aria-controls="primary-menu" aria-expanded="false"><span class="hide-a11y">Primary Menu</span></button></nav></div></header><main id="primary" class="site-main tpl-page"><article id="post-23814" class="post-23814 page type-page status-publish"><nav aria-label="Breadcrumb" class="breadcrumb"><ol class="breadcrumb__list" itemscope itemtype="https://schema.org/BreadcrumbList"><li class="breadcrumb__item" itemprop="itemListElement" itemscope itemtype="https://schema.org/ListItem"> <a class="breadcrumb__link" itemprop="item" href="https://www.telefonica.com/en/"> <span itemprop="name">Home</span> </a><meta itemprop="position" content="1" /></li><li class="breadcrumb__item" itemprop="itemListElement" itemscope itemtype="https://schema.org/ListItem"> <a class="breadcrumb__link" itemprop="item" href="https://www.telefonica.com/en/shareholders-investors/"> <span itemprop="name">Shareholders & Investors</span> </a><meta itemprop="position" content="2" /></li><li class="breadcrumb__item" itemprop="itemListElement" itemscope itemtype="https://schema.org/ListItem"> <a class="breadcrumb__link" itemprop="item" href="https://www.telefonica.com/en/shareholders-investors/corporate-governance/"> <span itemprop="name">Corporate Governance</span> </a><meta itemprop="position" content="3" /></li></ol></nav><header class="entry-header"><h1 class="entry-title">Policies</h2></header><div class="entry-content"><h2 class="heading-4 wp-block-heading" id="h-responsible-business-policy">Responsible Business Policy</h2><div class="download " id="downloads-23814"><ul class="download__list"><li class="download__item"><a class="GAevent download__link" target="_blank" href="https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/12/Responsible-Busines-Policy.pdf" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'descarga', 'eventAction' : 'Informe', 'eventLabel' : 'Responsible Busines Policy'});" data-vars-event-category='descarga' data-vars-event-action='Informe' data-vars-event-label='Responsible Busines Policy' download=""><div class="download__title"> <svg class="icon download__icon"> <use xlink:href="/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#download"></use> </svg>Responsible Busines Policy</div><div class="download__info"> PDF | 525 KB</div></a></li></ul></div><div class="tlf-spaces mb--70 "></div><h2 class="heading-4 wp-block-heading" id="h-diversity-policy-in-relation-to-the-board-of-directors-and-the-selection-of-directors">Diversity Policy in relation to the Board of Directors and the Selection of Directors</h2><div class="download " id="downloads-23814"><ul class="download__list"><li class="download__item"><a class="GAevent download__link" target="_blank" href="https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/12/Diversity-Policy-Board-of-Directors-and-Selection-of-Directors.pdf" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'descarga', 'eventAction' : 'Informe', 'eventLabel' : 'Diversity Policy - Board of Directors'});" data-vars-event-category='descarga' data-vars-event-action='Informe' data-vars-event-label='Diversity Policy - Board of Directors' download=""><div class="download__title"> <svg class="icon download__icon"> <use xlink:href="/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#download"></use> </svg>Diversity Policy – Board of Directors</div><div class="download__info"> PDF | 123 KB</div></a></li></ul></div><div class="tlf-spaces mb--70 "></div><h2 class="heading-4 wp-block-heading" id="h-disclosure-communication-and-contact-policy-for-shareholders-institutional-investors-and-proxy-advisors">Disclosure, communication and contact Policy for shareholders, institutional investors and proxy advisors.</h2><div class="download " id="downloads-23814"><ul class="download__list"><li class="download__item"><a class="GAevent download__link" target="_blank" href="https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/10/comunication-policy-shareholders.pdf" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'descarga', 'eventAction' : 'Informe', 'eventLabel' : 'Policy for shareholders, institutional investors and proxy advisors'});" data-vars-event-category='descarga' data-vars-event-action='Informe' data-vars-event-label='Policy for shareholders, institutional investors and proxy advisors' download=""><div class="download__title"> <svg class="icon download__icon"> <use xlink:href="/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#download"></use> </svg>Policy for shareholders, institutional investors and proxy advisors</div><div class="download__info"> PDF | 195 KB</div></a></li></ul></div><div class="tlf-spaces mb--70 "></div><h2 class="heading-4 wp-block-heading" id="h-remuneration-policy-of-the-directors-of-telefonica-s-a">Remuneration Policy of the Directors of Telefónica, S.A.</h2><div class="download " id="downloads-23814"><ul class="download__list"><li class="download__item"><a class="GAevent download__link" target="_blank" href="https://www.telefonica.com/en/wp-content/uploads/sites/5/2021/10/remunerations-policy-directors-telefonica.pdf" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'descarga', 'eventAction' : 'Informe', 'eventLabel' : 'Remuneration Policy of the Directors of Telefónica, S.A.'});" data-vars-event-category='descarga' data-vars-event-action='Informe' data-vars-event-label='Remuneration Policy of the Directors of Telefónica, S.A.' download=""><div class="download__title"> <svg class="icon download__icon"> <use xlink:href="/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#download"></use> </svg>Remuneration Policy of the Directors of Telefónica, S.A.</div><div class="download__info"> PDF | 4 MB</div></a></li></ul></div><div class="tlf-spaces mb--100 "></div><span class="cp-load-after-post"></span></div></article></main><footer id="colophon" class="site-footer"><div class="wrap"><div class="site-footer__content"><div class="site-footer__logo"> <svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#isotype-text"></use></svg><p>To make our world more human, by connecting lives.</p></div><div class="site-footer__social"><ul class="list"><li class="list__item"> <a href="https://www.facebook.com/telefonica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Facebook', 'eventLabel' : 'https://www.facebook.com/telefonica'});" data-vars-event-category='social follow' data-vars-event-action='Facebook' data-vars-event-label='https://www.facebook.com/telefonica' class="list__link GAevent" target="blank" rel="noopener"><span class="hide-a11y">facebook</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#facebook"></use></svg></a></li><li class="list__item"> <a href="https://www.linkedin.com/company/telef%C3%B3nica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Linkedin', 'eventLabel' : 'https://www.linkedin.com/company/telef%C3%B3nica'});" data-vars-event-category='social follow' data-vars-event-action='Linkedin' data-vars-event-label='https://www.linkedin.com/company/telef%C3%B3nica' class="list__link GAevent" target="blank" rel="noopener"><span class="hide-a11y">linkedin</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#linkedin"></use></svg></a></li><li class="list__item"> <a href="https://twitter.com/Telefonica_en" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Twitter', 'eventLabel' : 'https://twitter.com/Telefonica_en'});" data-vars-event-category='social follow' data-vars-event-action='Twitter' data-vars-event-label='https://twitter.com/Telefonica_en' data-vars-event-category="social follow" data-vars-event-action="Twitter" data-vars-event-label="https://twitter.com/telefonica/" class="list__link GAevent" target="blank" rel="noopener"><span class="hide-a11y">twitter</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#twitter"></use></svg></a></li><li class="list__item"> <a href="https://www.instagram.com/telefonica/" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'Instagram', 'eventLabel' : 'https://www.instagram.com/telefonica/'});" data-vars-event-category='social follow' data-vars-event-action='Instagram' data-vars-event-label='https://www.instagram.com/telefonica/' class="list__link GAevent" target="blank" rel="noopener"><span class="hide-a11y">instagram</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#instagram"></use></svg></a></li><li class="list__item"> <a href="https://www.youtube.com/user/telefonica" onclick="dataLayer.push({'event': 'gaEvent', 'eventCategory': 'social follow', 'eventAction' : 'YouTube', 'eventLabel' : 'https://www.youtube.com/user/telefonica'});" data-vars-event-category='social follow' data-vars-event-action='YouTube' data-vars-event-label='https://www.youtube.com/user/telefonica' class="list__link GAevent" target="blank" rel="noopener"><span class="hide-a11y">youtube</span><svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#youtube"></use></svg></a></li><li class="list__item"> <a href="https://www.telefonica.com/en/contact-us/" class="list__link contact">Contact us</a></li></ul></div><div class="site-footer__local"><ul class="list"><li class="list__item"> <a href="/en/about-us/countries-emerging-business-units/" class="list__link"> <svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#world"/></svg> Countries and emerging Units</a></li><li class="list__item"> <a href="/en/whistleblowing-queries-channel/" class="list__link"> <svg class="icon" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><g clip-path="url(#clip0_3_143)"><path d="M8.0112 16.0032C6.528 16.0032 5.376 15.576 4.5744 14.7312C3.8208 13.9344 3.4416 12.8256 3.4416 11.4384C3.4416 10.0512 3.8256 8.9376 4.5744 8.1456C5.3712 7.3008 6.528 6.8688 8.0112 6.8688C9.4944 6.8688 10.6464 7.3008 11.448 8.1408C12.1968 8.9376 12.5808 10.0464 12.5808 11.4336C12.5808 12.8208 12.1968 13.9344 11.448 14.7264C10.6464 15.576 9.4896 16.0032 8.0112 16.0032ZM8.0112 8.2272C5.8848 8.2272 4.8096 9.3072 4.8096 11.4288C4.8096 13.5504 5.8896 14.6304 8.0112 14.6304C10.1328 14.6304 11.2128 13.5504 11.2128 11.4288C11.2128 9.3072 10.1328 8.2272 8.0112 8.2272ZM15.3312 23.9904H0.6816C0.3072 23.9904 0 23.6832 0 23.3088V22.0416C0 20.4048 0.432 19.1376 1.2912 18.2784C2.1504 17.4192 3.4128 16.9776 5.04 16.9776H10.9776C12.6096 16.9776 13.8672 17.4144 14.7264 18.2784C15.5856 19.1424 16.0176 20.4048 16.0176 22.0416V23.3088C16.0128 23.688 15.7104 23.9904 15.3312 23.9904ZM1.3632 22.6224H14.6448V22.0368C14.6448 20.7744 14.3424 19.8288 13.752 19.2336C13.1616 18.6384 12.2256 18.336 10.9728 18.336H5.04C3.7872 18.336 2.8512 18.6384 2.2608 19.2336C1.6704 19.8288 1.368 20.7744 1.368 22.0368V22.6224H1.3632ZM18.3168 5.5008C18.0336 5.5008 17.8032 5.2704 17.808 4.9872V4.776C17.808 4.224 18.168 3.9072 18.4032 3.6768C18.4992 3.5856 18.7344 3.4368 18.7344 3.216C18.7344 3.0768 18.6528 2.7744 18.3168 2.7744C17.9808 2.7744 17.808 3.0384 17.808 3.2016C17.808 3.48 17.5776 3.7104 17.2992 3.7104C17.0208 3.7104 16.7904 3.48 16.7904 3.2016C16.7904 2.3472 17.3856 1.7952 18.3216 1.7952C19.2 1.7952 19.7856 2.5248 19.7856 3.2064C19.7856 3.7872 19.4736 3.984 19.224 4.2384C19.1184 4.344 18.8304 4.536 18.8304 4.7664V4.9728C18.8352 5.256 18.6096 5.4912 18.3312 5.496C18.3216 5.5008 18.3216 5.5008 18.3168 5.5008Z" fill="white"/><path d="M18.3168 6.8832C18.6137 6.8832 18.8544 6.64251 18.8544 6.3456C18.8544 6.04869 18.6137 5.808 18.3168 5.808C18.0199 5.808 17.7792 6.04869 17.7792 6.3456C17.7792 6.64251 18.0199 6.8832 18.3168 6.8832Z" fill="white"/><path d="M15.3552 11.6784C15.312 11.6784 15.264 11.6736 15.2208 11.6688C14.7168 11.592 14.304 11.1072 14.304 10.5888V8.688H14.1696C13.1088 8.688 12.3072 7.8432 12.3072 6.72V1.968C12.3072 0.8832 13.1856 0 14.2752 0H22.032C23.1168 0 24 0.8784 24 1.968V6.72C24 7.8048 23.1216 8.688 22.032 8.688H18.024C17.64 9.2928 16.8336 10.5648 16.6704 10.8096C16.32 11.352 15.8112 11.6784 15.3552 11.6784ZM14.2752 1.368C13.944 1.368 13.6752 1.6368 13.6752 1.968V6.72C13.6752 7.0224 13.8288 7.32 14.1744 7.32H14.9904C15.3648 7.32 15.672 7.6272 15.672 8.0016V9.84C16.0704 9.2208 17.064 7.6512 17.0736 7.6368C17.1984 7.44 17.4144 7.32 17.6496 7.32H22.032C22.3632 7.32 22.632 7.0512 22.632 6.72V1.968C22.632 1.6368 22.3632 1.368 22.032 1.368H14.2752Z" fill="white"/></g><defs><clipPath id="clip0_3_143"><rect width="24" height="24" fill="white"/></clipPath></defs></svg> Whistleblowing and Queries Channel</a></li><li class="list__item"><a href="/en/global-transparency-center/" target="_blank" class="list__link"> <svg class="icon" viewBox="0 0 27 27" fill="none" xmlns="http://www.w3.org/2000/svg"><path fill-rule="evenodd" clip-rule="evenodd" d="M13.4244 5.7942C13.1112 5.7888 12.8574 5.5458 12.8628 5.2434L12.8844 1.674C12.8898 1.3716 13.1382 1.1286 13.4514 1.1286H13.4568C13.77 1.134 14.0238 1.377 14.0184 1.6794L13.9968 5.2488C13.986 5.5458 13.7322 5.7942 13.4244 5.7942ZM9.9468 6.7014L8.3538 5.1354C8.1324 4.9194 8.1324 4.5684 8.3592 4.3578C8.5806 4.1418 8.937 4.1472 9.1584 4.3632L10.7514 5.9292C10.9728 6.1452 10.9674 6.4962 10.746 6.7068C10.6326 6.8094 10.4922 6.8634 10.3518 6.8634C10.206 6.8634 10.0602 6.8094 9.9468 6.7014ZM16.5132 6.8634C16.3728 6.8634 16.227 6.8094 16.119 6.7014C15.8976 6.4908 15.8976 6.1398 16.1136 5.9238L17.7066 4.3578C17.928 4.1364 18.2844 4.1364 18.5058 4.3524C18.7272 4.563 18.7272 4.914 18.5112 5.13L16.9182 6.696C16.8102 6.8094 16.6644 6.8634 16.5132 6.8634ZM4.077 9.369C3.7476 9.6822 3.5802 10.1898 3.5802 10.881C3.5802 11.5722 3.7476 12.0852 4.0716 12.393C4.3902 12.69 4.9032 12.8412 5.5998 12.8412C6.2964 12.8412 6.8148 12.69 7.1388 12.3876C7.4682 12.0852 7.6356 11.5776 7.6356 10.881C7.6356 10.1844 7.4682 9.6768 7.1388 9.369C6.8148 9.072 6.3018 8.91 5.6052 8.91C4.9086 8.9154 4.3956 9.072 4.077 9.369ZM5.6052 13.9482C4.6062 13.9482 3.8286 13.6944 3.294 13.1922C2.7378 12.6684 2.4516 11.8962 2.4516 10.8918C2.4516 9.8874 2.7378 9.1098 3.294 8.5806C3.834 8.0784 4.6062 7.8192 5.6052 7.8192C6.5988 7.8192 7.3818 8.0784 7.9218 8.5806C8.4834 9.1044 8.7696 9.882 8.7696 10.8918C8.7696 11.8962 8.4834 12.6684 7.9218 13.1976C7.3818 13.6944 6.5988 13.9482 5.6052 13.9482ZM25.8066 24.7752L25.866 18.6948C25.866 18.009 25.6608 17.442 25.2774 17.0532C24.7374 16.5078 23.9112 16.3944 23.3172 16.3944H19.4616H18.4302C18.2088 16.3944 17.8578 16.308 17.7012 16.2054C17.4906 16.065 17.2746 15.7572 17.2746 15.7572L14.0562 11.5398V15.3576V15.4062V15.4656V15.5304L15.768 17.7174V17.1234C15.768 16.821 16.0218 16.5726 16.335 16.5726C16.6482 16.5726 16.902 16.821 16.902 17.1234V19.3266C16.902 19.3374 16.9074 19.3482 16.9074 19.359V19.521C16.9074 19.6128 16.9128 19.7046 16.9128 19.8072L16.9074 20.4714V21.465H16.8966L16.8534 24.7752H22.41V20.439C22.41 20.1366 22.6638 19.8882 22.977 19.8882C23.2902 19.8882 23.544 20.1366 23.544 20.439V24.7752H25.8066ZM12.933 15.3522V11.5344L9.7146 15.7518C9.7146 15.7518 9.4986 16.065 9.288 16.2C9.1314 16.3026 8.775 16.389 8.559 16.389H7.5276H3.6828C3.0888 16.389 2.2626 16.5024 1.7226 17.0478C1.3392 17.442 1.134 18.009 1.134 18.6894L1.1934 24.7698H3.4614V20.4336C3.4614 20.1312 3.7152 19.8828 4.0284 19.8828C4.3416 19.8828 4.5954 20.1312 4.5954 20.4336V24.7698H10.152L10.1142 21.4596H10.098V20.466L10.0926 19.8072C10.0926 19.71 10.098 19.6182 10.098 19.5264V19.3644C10.098 19.3536 10.1034 19.3428 10.1034 19.332V17.1288C10.1034 16.8264 10.3572 16.578 10.6704 16.578C10.9836 16.578 11.2374 16.8264 11.2374 17.1288V17.7228L12.9492 15.5358V15.4764V15.4062V15.3522H12.933ZM26.0928 16.2918C26.6868 16.8912 27 17.7228 27 18.6948L26.9298 25.5258C26.9298 25.7202 26.7732 25.8768 26.5734 25.8768H16.0758C15.8814 25.8768 15.7194 25.7202 15.7194 25.5258L15.7788 20.4768V19.5264L13.5 16.6158L11.2266 19.5264V20.4714L11.286 25.5258C11.286 25.7202 11.124 25.8768 10.9296 25.8768H0.4266C0.2322 25.8768 0.0647998 25.7202 0.0647998 25.5258L0 18.6948C0 17.7174 0.3132 16.8912 0.9018 16.2918C1.5498 15.6384 2.5056 15.2928 3.6774 15.2928H7.5276C7.9056 15.2928 8.2674 15.2658 8.586 15.1092C8.7804 15.012 9.1746 14.6178 9.1746 14.6178L13.041 9.5526L13.0464 9.5472C13.0734 9.5148 13.1058 9.4878 13.1328 9.4608C13.1868 9.4122 13.2462 9.3798 13.3164 9.3528C13.3218 9.3528 13.3488 9.342 13.3488 9.342C13.3866 9.3312 13.446 9.3312 13.5054 9.3312C13.5594 9.3312 13.6188 9.3366 13.6674 9.3528L13.6836 9.3582C13.6836 9.3582 13.797 9.4014 13.8348 9.4392C13.878 9.4716 13.9158 9.504 13.9482 9.5418L13.9536 9.5472C13.959 9.5526 13.959 9.5526 13.959 9.5526L13.9644 9.558V9.5634L17.8254 14.6232C17.8254 14.6232 18.2196 15.0174 18.414 15.1146C18.7326 15.2712 19.0998 15.2982 19.4724 15.2982H23.3172C24.489 15.2928 25.4502 15.6384 26.0928 16.2918ZM19.8612 9.3798C19.5318 9.693 19.3644 10.2006 19.3644 10.8918C19.3644 11.583 19.5318 12.096 19.8612 12.3984C20.1852 12.6954 20.6982 12.8466 21.4002 12.8466C22.0968 12.8466 22.6098 12.6954 22.9284 12.3984C23.2524 12.0906 23.4198 11.583 23.4198 10.8864C23.4198 10.1898 23.2524 9.6822 22.923 9.3744C22.6044 9.0774 22.0914 8.9208 21.3948 8.9208C20.6982 8.9208 20.1852 9.072 19.8612 9.3798ZM19.0836 13.1922C18.522 12.6684 18.2358 11.8962 18.2358 10.8864C18.2358 9.882 18.522 9.1044 19.0836 8.5752C19.6236 8.073 20.4012 7.8138 21.3948 7.8138C22.3884 7.8138 23.1714 8.0676 23.706 8.5752C24.2622 9.099 24.5484 9.8712 24.5484 10.881C24.5484 11.8854 24.2622 12.663 23.706 13.1868C23.166 13.689 22.3938 13.9428 21.3948 13.9428C20.4012 13.9482 19.6182 13.6944 19.0836 13.1922Z" fill="white"/></svg>Global Transparency Center<svg class="icon" style="min-width: 10px; width: 10px; height: 10px; margin-left: 5px; margin-top: 2px;"><use xlink:href="/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#arrow-tr"></use></svg></a></li></ul></div></div><div class="scroll-menu scroll-menu--open" id="scroll-menu"><div class="scroll-menu__block scroll-menu__block--logo"> <a class="link" href="https://www.telefonica.com/en/"> <svg class="icon"><use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#isotype"></use></svg><span class="hide-a11y">Go back to home</span> </a></div><div class="scroll-menu__block scroll-menu__block--search"> <button class="button button--flat tf-main-search" aria-label="Abrir buscador"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol/sprite.svg#magnifier"></use> </svg> </button></div><div class="scroll-menu__block scroll-menu__block--menu"> <button class="button button--flat tf-main-toggle" aria-label="Abrir menu"> <svg class="icon"> <use xlink:href="https://www.telefonica.com/en/wp-content/themes/telefonica-theme/img/svg/symbol//sprite.svg#menu"></use> </svg> </button></div><div class="site-footer__up"> <a href="#page" class="link"><span class="hide-a11y">Subir</span><div class="cta cta--white-arrow cta--white-arrow"></div></a></div></div></div><div class="site-footer__links"><div class="wrap"><ul id="menu-footer" class="menu"><li id="menu-item-20845" class="nolink menu-item menu-item-type-custom menu-item-object-custom menu-item-20845"><a><span style="font-family: 'Telefonica-sans-light';">© Telefónica S.A.</span></a></li><li id="menu-item-18613" class="ot-sdk-show-settings menu-item menu-item-type-custom menu-item-object-custom menu-item-18613"><a href="#">Configure Cookies</a></li><li id="menu-item-26265" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-26265"><a href="https://www.telefonica.com/en/cookies/">Cookies policy</a></li><li id="menu-item-274" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-274"><a href="https://www.telefonica.com/en/legal-notice/">Legal notice</a></li><li id="menu-item-21622" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-21622"><a href="/en/telefonica-accesibility/">Accesibility</a></li><li id="menu-item-20846" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-20846"><a href="https://www.telefonica.com/en/privacy-policy/">Privacy Policy</a></li></ul></div></div></footer></div><link rel='stylesheet' type='text/css' id='cp-google-fonts' href='https://fonts.googleapis.com/css?family=http://Bitter|Lato|Libre+Baskerville|Montserrat|Neuton|Open+Sans|Pacifico|Raleway|Roboto|Sacramento|Varela+Round|Lato|Open%20Sans|Libre%20Baskerville|Montserrat|Neuton|Raleway|Roboto|Sacramento|Varela%20Round|Pacifico|Bitter&display=swap' media='none' onload = 'if(media!="all")media="all"'><style type="text/css">.cp-info-bar.content-674284dd50430.cp-pos-top.cp-info-bar-border { border-bottom: 2px solid #0066ff } .cp-info-bar.content-674284dd50430.cp-pos-bottom.cp-info-bar-border { border-top: 2px solid #0066ff }.site-footer { padding-bottom: 65px; } .single-post .cp_id_d0183.cp-info-bar-container { margin-bottom: 35px!important; } .single-post .site-footer { padding-bottom: 100px!important; } .cp_id_d0183 .cp-info-bar-body { font-family:'Telefonica-sans-light'!important; } .cp_id_d0183.cp-info-bar-container { z-index: 99; } .cp_id_d0183 .cp-content-container { display: flex; align-items: center; justify-content: center; } .cp_id_d0183 .logo-texto { display: flex; align-items: center; } .cp_id_d0183 .button { margin-left: 30px; } .cp_id_d0183 img { margin-right: 30px; } .site-footer__up { z-index:999; } @media (max-width: 767px) { .site-footer { padding-bottom: 115px; } .single-post .site-footer { padding-bottom: 160px!important; } .site-footer__up { z-index:999; } .cp_id_d0183 .cp-info-bar-body span { font-size: 17px!important; text-align: left !important; } .cp_id_d0183 .logo-texto { margin-bottom: 20px; } .cp_id_d0183 .cp-content-container { flex-direction: column; padding-right: 0px!important; padding-left: 0px!important; } .cp_id_d0183 .button { margin-left: 0px; } }.cp-info-bar.content-674284dd50430 .cp-ifb-toggle-btn { font-family: sans-serif }.cp-info-bar.content-674284dd50430 .cp-info-bar-body-overlay {background:-webkit-linear-gradient(top, #002957 0%, #013983 100%);background:-o-linear-gradient(top, #002957 0%, #013983 100%);background:-moz-linear-gradient(top, #002957 0%, #013983 100%);background:linear-gradient(to top, #002957 0%, #013983 100%);}.cp-info-bar.content-674284dd50430 .cp-info-bar-body { background: #ffffff; }.cp-info-bar.content-674284dd50430 .cp-ib-container { width: 1000px; }</style><style class="cp-toggle-btn" type="text/css">.cp-info-bar.content-674284dd50430 .cp-btn-flat.cp-ifb-toggle-btn{ font-size: 12px; border-radius:0px; border-width:0px; border-color:rgb(0, 0, 0); padding-left:15px; padding-right:15px; padding-top:10px; padding-bottom:10px; border-color:rgb(0, 0, 0); } .cp-info-bar.content-674284dd50430 .cp-btn-flat.cp-ifb-toggle-btn{ background: rgb(0, 0, 0)!important; color:rgb(255, 255, 255); } .cp-info-bar.content-674284dd50430 .cp-btn-flat.cp-ifb-toggle-btn:hover { background: rgba(0, 0, 0, undefined)!important; }</style><style class="cp-ifb-second_submit" type="text/css"></style><input type="hidden" id="cp-push-down-support" value=""> <input type="hidden" id="cp-top-offset-container" value=""><div data-module-type="info-bar" data-toggle = "0" data-tz-offset = "1" data-dev-mode = "enabled" data-exit-intent = "disabled" data-add-to-cart = "0"data-onscroll-value = "1" data-onload-delay = "" data-timezonename = "wordpress" data-timezone = "Europe/Madrid" data-load-on-count = ""data-load-on-refresh = "enabled" data-push-down = "0" data-animate-push-page = "1" data-class = "content-674284dd50430 " data-closed-cookie-time="0" data-conversion-cookie-time="0" data-info_bar-id="cp_id_d0183" data-info_bar-style="cp_id_d0183" data-entry-animation="smile-none" data-exit-animation="cp-overlay-none" data-option="smile_info_bar_styles" data-scheduled=false data-custom-class=" cp-cp_id_d0183" data-referrer-domain="" data-referrer-check="hide" data-after-content-value="50" id = "cp-cp_id_d0183 " data-custom-selector = "" class=" cp-module cp-info-bar-container cp-clear cp-info-bar-border cp-info-bar cp-blank-info-bar cp-ib-onload cp-global-load cp-pos-bottom global_info_bar_container ib-fixed smile-animated smile-none content-674284dd50430 cp_id_d0183 cp-cp_id_d0183 " style="min-height:64px;" data-style-id ="cp_id_d0183" data-module-name ="infobar" data-close-gravity = "1"><div class="cp-info-bar-wrapper cp-clear"><div class="cp-info-bar-body-overlay"></div><div class="cp-flex cp-info-bar-body ib-close-outside" style="min-height:64px;" data-height=''><div class="cp-flex cp-ib-container"> <input type="hidden" class="cp-impress-nonce" name="cp-impress-nonce" value="d185099dd8"><div class="cp-content-container"><div class="logo-texto"><img alt="Telefónica Centenary logo" src="https://www.telefonica.com/es/wp-content/uploads/sites/4/2024/03/logo-centenario-infobar.png" /> <span class="cp_responsive cp_font" data-font-size="24px" style="font-size:24px; line-height: normal;">Celebrate with us the Telefónica Centenary</span></div> <a class="button button--main button--small" href="https://www.telefonica100.com/en" target="_blank" type="button">START THE ADVENTURE</a></div></div></div></div></div> <script type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1">var relevanssi_rt_regex = /(&|\?)_(rt|rt_nonce)=(\w+)/g var newUrl = window.location.search.replace(relevanssi_rt_regex, '') history.replaceState(null, null, window.location.pathname + newUrl + window.location.hash)</script> <script type="text/javascript">document.addEventListener( 'wpcf7mailsent', function( event ) { var out = document.getElementsByClassName('wpcf7-response-output'); var select_area = document.getElementsByName('contact-area'); var area = select_area[0].value; var contact_form = document.getElementById('tlf_contact_form'); if(out != [] && contact_form){ dataLayer.push({'event': 'gaEvent', 'eventCategory': 'formulario contacto - '+area, 'eventAction' : 'envio', 'eventLabel' : 'ok'}); var message = out[0].innerHTML; var content = document.getElementsByClassName('contact_formpage_content')[0]; var title = document.createElement('p'); title.classList.add("heading-2"); title.innerHTML = "Thank you for your message. It has been sent."; var phrase = document.createElement('p'); phrase.classList.add("mb--m"); phrase.innerHTML = message; content.innerHTML = ''; var link = document.createElement('a'); link.classList.add("link"); link.href = "https://www.telefonica.com/en/contact-us/"; link.innerHTML = "Go back to contact"; var result = document.createElement('div'); result.appendChild(title); result.appendChild(phrase); result.appendChild(link); content.appendChild(result); } // if ( event.detail.inputs[0].name== "contact-area" ) { //Main contact form // location = 'gracias/'; // } }, false ); document.addEventListener( 'wpcf7invalid', function( event ) { var out = document.getElementsByClassName('wpcf7-response-output'); var select_area = document.getElementsByName('contact-area'); var area = select_area[0].value; var contact_form = document.getElementById('tlf_contact_form'); if(out != [] && contact_form){ if(typeof event.detail.apiResponse.invalid_fields == 'object'){ event.detail.apiResponse.invalid_fields.forEach(element => dataLayer.push({'event': 'gaEvent', 'eventCategory': 'formulario contacto - '+area, 'eventAction' : 'envio', 'eventLabel' : element.field}) ) } } }, false ); document.addEventListener( 'wpcf7spam', function( event ) { var out = document.getElementsByClassName('wpcf7-response-output'); var select_area = document.getElementsByName('contact-area'); var area = select_area[0].value; var contact_form = document.getElementById('tlf_contact_form'); if(out != [] && contact_form){ dataLayer.push({'event': 'gaEvent', 'eventCategory': 'formulario contacto - '+area, 'eventAction' : 'envio', 'eventLabel' : 'fail'}); } }, false ); document.addEventListener( 'wpcf7mailfailed ', function( event ) { var out = document.getElementsByClassName('wpcf7-response-output'); var select_area = document.getElementsByName('contact-area'); var area = select_area[0].value; var contact_form = document.getElementById('tlf_contact_form'); if(out != [] && contact_form){ dataLayer.push({'event': 'gaEvent', 'eventCategory': 'formulario contacto - '+area, 'eventAction' : 'envio', 'eventLabel' : 'fail'}); } }, false );</script> <link rel='preload' as='style' onload="this.onload=null;this.rel='stylesheet'" id='blank-cp_id_d0183' href='https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/info_bar/assets/demos/blank/blank.min.css?ver=3.5.29' type='text/css' media='all' /> <script src="https://stats.wp.com/e-202447.js" id="jetpack-stats-js" data-wp-strategy="defer" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script id="jetpack-stats-js-after" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1">_stq = window._stq || []; _stq.push([ "view", JSON.parse("{\"v\":\"ext\",\"blog\":\"200144906\",\"post\":\"23814\",\"tz\":\"1\",\"srv\":\"www.telefonica.com\",\"hp\":\"vip\",\"j\":\"1:13.9.1\"}") ]); _stq.push([ "clickTrackerInit", "200144906", "23814" ]);</script> <script src="https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/assets/js/cp-module-main.js?ver=3.5.29" id="convert-plus-module-main-js-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script id="convert-plus-info-bar-script-js-extra" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1">var smile_ajax = {"url":"https:\/\/www.telefonica.com\/en\/wp-admin\/admin-ajax.php"};</script> <script src="https://www.telefonica.com/en/wp-content/plugins/convertplug/modules/info_bar/assets/js/info_bar.min.js?ver=3.5.29" id="convert-plus-info-bar-script-js" type="pmdelayedscript" data-cfasync="false" data-no-optimize="1" data-no-defer="1" data-no-minify="1"></script> <script id="perfmatters-delayed-scripts-js">const pmDelayClick=false;const pmUserInteractions=["keydown","mousedown","mousemove","wheel","touchmove","touchstart","touchend"],pmDelayedScripts={normal:[],defer:[],async:[]},jQueriesArray=[],pmInterceptedClicks=[];var pmDOMLoaded=!1,pmClickTarget="";function pmTriggerDOMListener(){"undefined"!=typeof pmDelayTimer&&clearTimeout(pmDelayTimer),pmUserInteractions.forEach(function(e){window.removeEventListener(e,pmTriggerDOMListener,{passive:!0})}),document.removeEventListener("visibilitychange",pmTriggerDOMListener),"loading"===document.readyState?document.addEventListener("DOMContentLoaded",pmTriggerDelayedScripts):pmTriggerDelayedScripts()}async function pmTriggerDelayedScripts(){pmDelayEventListeners(),pmDelayJQueryReady(),pmProcessDocumentWrite(),pmSortDelayedScripts(),pmPreloadDelayedScripts(),await pmLoadDelayedScripts(pmDelayedScripts.normal),await pmLoadDelayedScripts(pmDelayedScripts.defer),await pmLoadDelayedScripts(pmDelayedScripts.async),await pmTriggerEventListeners(),document.querySelectorAll("link[data-pmdelayedstyle]").forEach(function(e){e.setAttribute("href",e.getAttribute("data-pmdelayedstyle"))}),window.dispatchEvent(new Event("perfmatters-allScriptsLoaded")),pmWaitForPendingClicks().then(()=>{pmReplayClicks()})}function pmDelayEventListeners(){let e={};function t(t,n){function r(n){return e[t].delayedEvents.indexOf(n)>=0?"perfmatters-"+n:n}e[t]||(e[t]={originalFunctions:{add:t.addEventListener,remove:t.removeEventListener},delayedEvents:[]},t.addEventListener=function(){arguments[0]=r(arguments[0]),e[t].originalFunctions.add.apply(t,arguments)},t.removeEventListener=function(){arguments[0]=r(arguments[0]),e[t].originalFunctions.remove.apply(t,arguments)}),e[t].delayedEvents.push(n)}function n(e,t){let n=e[t];Object.defineProperty(e,t,{get:n||function(){},set:function(n){e["perfmatters"+t]=n}})}t(document,"DOMContentLoaded"),t(window,"DOMContentLoaded"),t(window,"load"),t(window,"pageshow"),t(document,"readystatechange"),n(document,"onreadystatechange"),n(window,"onload"),n(window,"onpageshow")}function pmDelayJQueryReady(){let e=window.jQuery;Object.defineProperty(window,"jQuery",{get:()=>e,set(t){if(t&&t.fn&&!jQueriesArray.includes(t)){t.fn.ready=t.fn.init.prototype.ready=function(e){pmDOMLoaded?e.bind(document)(t):document.addEventListener("perfmatters-DOMContentLoaded",function(){e.bind(document)(t)})};let n=t.fn.on;t.fn.on=t.fn.init.prototype.on=function(){if(this[0]===window){function e(e){return e=(e=(e=e.split(" ")).map(function(e){return"load"===e||0===e.indexOf("load.")?"perfmatters-jquery-load":e})).join(" ")}"string"==typeof arguments[0]||arguments[0]instanceof String?arguments[0]=e(arguments[0]):"object"==typeof arguments[0]&&Object.keys(arguments[0]).forEach(function(t){delete Object.assign(arguments[0],{[e(t)]:arguments[0][t]})[t]})}return n.apply(this,arguments),this},jQueriesArray.push(t)}e=t}})}function pmProcessDocumentWrite(){let e=new Map;document.write=document.writeln=function(t){var n=document.currentScript,r=document.createRange();let a=e.get(n);void 0===a&&(a=n.nextSibling,e.set(n,a));var i=document.createDocumentFragment();r.setStart(i,0),i.appendChild(r.createContextualFragment(t)),n.parentElement.insertBefore(i,a)}}function pmSortDelayedScripts(){document.querySelectorAll("script[type=pmdelayedscript]").forEach(function(e){e.hasAttribute("src")?e.hasAttribute("defer")&&!1!==e.defer?pmDelayedScripts.defer.push(e):e.hasAttribute("async")&&!1!==e.async?pmDelayedScripts.async.push(e):pmDelayedScripts.normal.push(e):pmDelayedScripts.normal.push(e)})}function pmPreloadDelayedScripts(){var e=document.createDocumentFragment();[...pmDelayedScripts.normal,...pmDelayedScripts.defer,...pmDelayedScripts.async].forEach(function(t){var n=t.getAttribute("src");if(n){var r=document.createElement("link");r.href=n,"module"==t.getAttribute("data-perfmatters-type")?r.rel="modulepreload":(r.rel="preload",r.as="script"),e.appendChild(r)}}),document.head.appendChild(e)}async function pmLoadDelayedScripts(e){var t=e.shift();return t?(await pmReplaceScript(t),pmLoadDelayedScripts(e)):Promise.resolve()}async function pmReplaceScript(e){return await pmNextFrame(),new Promise(function(t){let n=document.createElement("script");[...e.attributes].forEach(function(e){let t=e.nodeName;"type"!==t&&("data-perfmatters-type"===t&&(t="type"),n.setAttribute(t,e.nodeValue))}),e.hasAttribute("src")?(n.addEventListener("load",t),n.addEventListener("error",t)):(n.text=e.text,t()),e.parentNode.replaceChild(n,e)})}async function pmTriggerEventListeners(){pmDOMLoaded=!0,await pmNextFrame(),document.dispatchEvent(new Event("perfmatters-DOMContentLoaded")),await pmNextFrame(),window.dispatchEvent(new Event("perfmatters-DOMContentLoaded")),await pmNextFrame(),document.dispatchEvent(new Event("perfmatters-readystatechange")),await pmNextFrame(),document.perfmattersonreadystatechange&&document.perfmattersonreadystatechange(),await pmNextFrame(),window.dispatchEvent(new Event("perfmatters-load")),await pmNextFrame(),window.perfmattersonload&&window.perfmattersonload(),await pmNextFrame(),jQueriesArray.forEach(function(e){e(window).trigger("perfmatters-jquery-load")});let e=new Event("perfmatters-pageshow");e.persisted=window.pmPersisted,window.dispatchEvent(e),await pmNextFrame(),window.perfmattersonpageshow&&window.perfmattersonpageshow({persisted:window.pmPersisted})}async function pmNextFrame(){return new Promise(function(e){requestAnimationFrame(e)})}function pmReplayClicks(){window.removeEventListener("touchstart",pmTouchStartHandler,{passive:!0}),window.removeEventListener("mousedown",pmTouchStartHandler),pmInterceptedClicks.forEach(e=>{e.target.outerHTML===pmClickTarget&&e.target.dispatchEvent(new MouseEvent("click",{view:e.view,bubbles:!0,cancelable:!0}))})}function pmWaitForPendingClicks(){return new Promise(e=>{window.pmIsClickPending?pmPendingClickFinished=e:e()})}function pmPendingClickStarted(){window.pmIsClickPending=!0}function pmPendingClickFinished(){window.pmIsClickPending=!1}function pmClickHandler(e){e.target.removeEventListener("click",pmClickHandler),pmRenameDOMAttribute(e.target,"pm-onclick","onclick"),pmInterceptedClicks.push(e),e.preventDefault(),e.stopPropagation(),e.stopImmediatePropagation(),pmPendingClickFinished()}function pmTouchStartHandler(e){"HTML"!==e.target.tagName&&(pmClickTarget||(pmClickTarget=e.target.outerHTML),window.addEventListener("touchend",pmTouchEndHandler),window.addEventListener("mouseup",pmTouchEndHandler),window.addEventListener("touchmove",pmTouchMoveHandler,{passive:!0}),window.addEventListener("mousemove",pmTouchMoveHandler),e.target.addEventListener("click",pmClickHandler),pmRenameDOMAttribute(e.target,"onclick","pm-onclick"),pmPendingClickStarted())}function pmTouchMoveHandler(e){window.removeEventListener("touchend",pmTouchEndHandler),window.removeEventListener("mouseup",pmTouchEndHandler),window.removeEventListener("touchmove",pmTouchMoveHandler,{passive:!0}),window.removeEventListener("mousemove",pmTouchMoveHandler),e.target.removeEventListener("click",pmClickHandler),pmRenameDOMAttribute(e.target,"pm-onclick","onclick"),pmPendingClickFinished()}function pmTouchEndHandler(e){window.removeEventListener("touchend",pmTouchEndHandler),window.removeEventListener("mouseup",pmTouchEndHandler),window.removeEventListener("touchmove",pmTouchMoveHandler,{passive:!0}),window.removeEventListener("mousemove",pmTouchMoveHandler)}function pmRenameDOMAttribute(e,t,n){e.hasAttribute&&e.hasAttribute(t)&&(event.target.setAttribute(n,event.target.getAttribute(t)),event.target.removeAttribute(t))}window.pmIsClickPending=!1,window.addEventListener("pageshow",e=>{window.pmPersisted=e.persisted}),pmUserInteractions.forEach(function(e){window.addEventListener(e,pmTriggerDOMListener,{passive:!0})}),pmDelayClick&&(window.addEventListener("touchstart",pmTouchStartHandler,{passive:!0}),window.addEventListener("mousedown",pmTouchStartHandler)),document.addEventListener("visibilitychange",pmTriggerDOMListener);</script><script type="text/javascript">window.NREUM||(NREUM={});NREUM.info={"beacon":"bam.nr-data.net","licenseKey":"47bac1bdd1","applicationID":"361668846","transactionName":"Z1daYRNZXBBRWxZQCV4deVYVUV0NH0gDXgM=","queueTime":0,"applicationTime":963,"atts":"SxBNF1tDT08SWUADHU1P","errorBeacon":"bam.nr-data.net","agent":""}</script></body></html>