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Breaking News: Spanish Government Reacquires 10% Stake in Telefónica Amid Tension with Saudi STC and Uncertain Future Investments

SEPI acquires Telefónica shares, becoming 3% of company ownership

Breaking News: Spanish Government Reacquires 10% Stake in Telefónica Amid Tension with Saudi STC and Uncertain Future Investments

The Spanish government has reacquired a 10% stake in Telefónica, 26 years after divesting. This move was prompted by the recent purchase of 9.9% of the company’s shares by Saudi STC, which caused tension. The decision to buy shares came from the State Society of Industrial Participations (SEPI), following the government’s choice. SEPI already holds a 3% stake in Telefónica, and the recent acquisition will bring the total to 10%, costing around 700 million euros.

The process of acquiring the shares has been ongoing for several days, but it was officially announced on Monday. Coincidentally, CaixaBank reduced its stake in Telefónica from 3.51% to 2.51% around the same time. Telefónica confirmed that SEPI’s purchase aligns with the government’s goal of acquiring a 10% stake. While CaixaBank has reduced its position, Criteria expects to increase its percentage through further acquisitions.

The entry of Saudi STC into Telefónica’s capital raised questions about its intentions, as they continue to remain silent on their plans. Both Telefónica and STC have not provided further information about the situation. The State’s resurgence as a shareholder aims to stabilize shares and ensure a strategic position in the company. The ongoing developments surrounding ownership changes in Telefónica continue to unfold, with many factors remaining uncertain.

In conclusion, the Spanish government has reacquired a significant stake in telecommunications giant Telefónica after divesting two decades ago. The move came in response to Saudi STC purchasing nearly 10% of the company’s shares and causing tension between investors and regulators alike.

As a journalist exploring this topic further, I would investigate why Saudi STC decided to purchase such a significant amount of stock in Telefónica without disclosing their intentions or plans for future investments.

Additionally, I would delve deeper into how this acquisition aligns with Spain’s broader economic policies and what impact it may have on other industries within Europe.

Lastly, I would also examine how this development may affect other shareholders such as CaixaBank and Criteria’s positions in Telefonica and their reaction towards it.

Overall, this news is significant for both Spain’s economy and telecommunications industry worldwide and demands further exploration into its implications beyond surface level information provided by official statements alone.

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