This news is kind of shocking. Telefonica, one of the world’s largest telecoms operator, is buying a stake in Tuenti, Spain’s second social network and the main one for people under 25. According to El País, the value of Tuenti would be €70 million. Telefónica already tried to create its own mobile social network, Keteke, a project in which €2 million were invested with almost no results.

Spain is, together with Germany, the only big European country in which one social network fights with Facebook. In the rest of the countries, Facebook has become almost a monopoly. Tuenti has around 7 million monthly users in Spain, while Facebook reaches 12 million.