Telefonica Action, of quarterly periodicity, is the magazine for the shareholders of Telefónica, with contents about the economic results and news that the company generates, as well as interviews, reports and other of quality of life, trips and agenda. It includes a special booklet with the economic and financial information addressed to its shareholders, as well as the news generated by the company throughout the quarter. The 68 pages of the magazine are, thus, a communication tool between the