The adjustment in the reported stake by the US firm is due to the expiration of a portion of the financial derivatives used to hedge STC’s position in Telefónica.
US investment bank Morgan Stanley has reduced its stake in Telefónica to 8%, a move that places the current value of its position at €1.726 billion, according to filings with the Spanish National Securities Market Commission (CNMV).
Specifically, the entity’s holding dropped from 13.091% of the share capital to 8.398%. This stake breaks down into 0.101% in voting rights attached to shares and 8.297% exercised through various financial instruments.
Following this position restructuring, Morgan Stanley controls a total of 476,180,167 shares in the telecommunications company chaired by Marc Murtra.
Based on its market closing price this Thursday of €3.625 per share, the stock package reaches a total value of €1.726 billion.
Furthermore, the resulting 8.398% shareholding in Telefónica marks the financial entity’s lowest percentage in the operator since entering its capital in September 2023, when it reached as high as 12.178%.
The operator’s major shareholders include the Spanish Government, through the State Corporation for Industrial Participations (SEPI), with a 10% stake; CriteriaCaixa, with 9.9%; and STC Group, holding 9.969%.
For its part, Telefónica closed Thursday’s trading session up 1.46%, trading at a unit price of €3.62.
