Spanish Government Buys €698 Million Stake in Telefonica.

Autor:	Lizarraga, Clara Hernanz
Předmět:	FINANCIAL instruments MERGERS & acquisitions PUBLIC investments INFRASTRUCTURE (Economics) VALUE (Economics)
Zdroj:	Bloomberg.com; 3/25/2024, pN.PAG-N.PAG, 1p
Abstrakt:	The Spanish government has purchased a 3% stake in Telefonica SA in response to Saudi Telecom Co.'s plan to increase its shareholding in the company. The government's investment holding, Sepi, bought 175 million shares worth approximately €698 million ($756 million). This move follows Sepi's announcement in December to acquire up to 10% of Telefonica to ensure shareholder stability and protect strategic capacities. Telefonica is considered strategically important by Madrid due to its critical infrastructure for national defense and security. Saudi Telecom Co. currently holds a 4.9% stake in shares and an additional 5% through financial instruments. [Extracted from the article]
Databáze:	Complementary Index
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