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New US-Spanish firm plans to target lucrative mobile advertiser market

MADRID--Spanish telecoms firm Telefonica and U.S. investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multibillion-dollar market.

Telefonica and Blackstone's GSO Capital Partners division have formed Axonix, a London-based advertising company which will buy and sell “space” for targeted advertising via mobile phones, the Spanish firm said.

Telefonica said it was the first telecom firm to compete in the lucrative mobile online advertising market dominated by major internet companies such as Google, Facebook and Twitter.

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