| 31. | Telefonica is majority owned and operated by Spanish telephone company Telefonica de Espana.
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| 32. | Emilio Espana hardly has the makings of a radical.
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| 33. | But Espana has rebelled against the Mexican financial establishment.
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| 34. | Its Old Quarter centers on an elegant and most unusual Plaza de Espana.
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| 35. | It is also advising Telefonica de Espana on a planned offering next year.
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| 36. | Santillana formerly headed Telefonica de Espana's international services unit, TISA.
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| 37. | Inglaterra es derechista desde hace 17 anos y en Espana duro 12 anos.
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| 38. | _Pero usted no es uno de los jueces mas custodiados de Espana?
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| 39. | Spain's biggest telecommunications company, Telefonica de Espana SA led decliners.
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| 40. | Gains by Telefonica de Espana SA helped stem losses.
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