Friday Review: Leaning on LatAm

Telefonica's decision to move Latin American chief executive Jose Maria Alvarez-Pallete back to his native Spain to head up its Europe division underscores the telco's need to replicate the performance of its LatAm businesses closer to home. But comments made by Alvarez-Pallete the day after Telefonica's headline-hitting restructuring announcement serve to illustrate that Latin America still has something that Europe does not: strong growth potential. "In this current time of raid change, the potential of emerging markets is changing the rules of the game and will determine the future trends of the [ICT] sector," said Alvarez-Pallete, speaking at a telecoms industry meeting in Santander, according to an announcement from Telefonica. In his address, the new leader of Telefonica Europe, which now incorporates the Spanish operator's ailing domestic business…