(Telecompaper) Telefonica reported second-quarter revenues up 12.4 percent to EUR 11.876 billion, driven by takeovers such as E-Plus in Germany, GVT in Brazil and DTS in Spain, as well as improving sales trends in its home market Spain. OIBDA rose 6.8 percent to EUR 3.702 billion, while the margin fell to 31.2 percent from 32.8 percent a year ago due to the consolidation of GVT and DTS. On an organic basis, excluding currency effects, revenues rose 4.4 percent and OIBDA was up 3.3 percent. Net profit jumped 70.4 percent to EUR 1.891 billion, after O2 UK was classified as discontinued activities ahead of the planned sale to Hutchison Whampoa. Telefonica adjusted its full-year outlook to take account of the acquisitions and now expects revenue growth of 9.5 percent of higher versus over 7 percent growth previously. The OIBDA margin is now expected to fall by around 1.2 percent points, versus an earlier estimate of 1 point, due to the lower margins at DTS and GVT. The company still expects capital expenditure at around 17 percent of revenues, after a figure of xx percent in the first half of the year, and net debt is expected to fall to less than 2.35 times EBITDA after the sale of O2 UK. At the end of June, net debt was at 2.92x, or 2.38 if the expected proceeds from O2 are included.