(Telecompaper) Telefonica has announced a major organisational restructure following a meeting of its board of directors. The company's 5-point plan to generate more than EUR 2 billion a year in additional revenues from 2022 onwards involves prioritising its four key markets of Spain, Brazil, Germany and the UK, carrying out an "operational spin-off" of its Latin American business and setting up a subsidiary for its cloud, cybersecurity and Internet of Things (IoT) businesses called Telefonica Tech and another for its infrastructure assets called Telefonica Infra.