There are a lot of rumors floating around that various carriers will get the 3G iPhone. Telefonica is one of the carriers usually named, Vodafone is usually the other. The rumors lately indicate that the next generation of iPhone, the iPhone 3G, will be available in May.
This blog post is basically for the record -- I don't buy it. These posts are all referencing obscure foreign blogs while the more traditional scoop-based mac sites remain silent on the matter (like thinksecret.com, for example). I don't think Apple will replace the iPhone hardware that soon, either -- part of me thinks that Apple will unveil a new iPhone right about the time that original purchasers near the end of their contracts. You know, selling stuff to their already-captive audience. Apple has hinted that maybe we'd maybe see something iPhoney with 3G in late 2008, and that's probably still true.