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Government prepares to take stake close to 5% in Telefónica to balance Saudi participation

TOPICS:
Telefonica central

Posted By: The Corner 1st November 2023

Norbolsa: The Government is preparing to take a stake of close to 5% in Telefónica led by SEPI in coordination with other national investors in order to balance the entry of Saudi Arabia. Given the high amount of the acquisition of this 5%, which would be around €1,000 million, the Moncloa is working to bring together the interest of several Spanish business people to join this initiative, which would mean the return of the State to Telefónica’s capital.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.