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Saudi Telecom must inform Defence about its Telefónica plans

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Telefonica nubecillas

Posted By: The Corner 12th September 2023

Norbolsa| Saudi Telecom will have to inform Defence about its plans in Telefónica (TEF) if it wants to obtain the government’s permission. In this regard, the Ministry of Defence updated on 1 September the information requirements it requests from foreign investors who buy more than 5% in companies linked to the Spanish Armed Forces, which is the case of Telefónica, for its communication and technology services to the Army.

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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.