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SEPI takes stake in Telefónica to over 9% from 8% previously

Banco Sabadell: The State Industrial Ownership Corporation (SEPI) has informed the National Securities Market Commission (CNMV) that on May 15th it reached a stake of more than 9% in the capital of Telefónica (from the previous 8%). We recall that SEPI’s objective is to reach 10% of TEF’s capital. Assessment: Positive news with limited impact, in fact now that SEPI has almost achieved its objective, the share will lose this…


SEPI announces it now owns 3% of Telefónica and reinforces company’s “Spanishness”.

Renta 4| According to National Securities Market Commission (CNMV) records, the state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) now controls 3.044% of Telefónica’s capital. It should be remembered that the Council of Ministers last December approved the purchase of 10% of the operator’s capital by SEPI. Caixabank also announced that it has divested 1%, dropping to 2.51%, while Criteria is increasing its stake. The aim is to…


SEPI’s Takeover Bid For Indra Would Cost 1.2 Billion Euros

“The Spanish government’s takeover of Indra is going to put the Comisión Nacional del Mercado de Valores (CNMV) on the spot, as the outcome could have a high cost for Spanish taxpayers. At first glance, it seems obvious that there has been an agreement between shareholders holding more than 30% of the capital of the technology and defence company to overturn its board of directors,” explains the daily Expansión, which…

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Ezentis Asks SEPI For An Express Bailout Of 70 Million Euros To Avoid Default, And Its Shares Plunge 20%

Ezentis, formerly Avanzit and Radiotrónica, is once again facing serious financial problems that threaten its viability. The company has asked the Sociedad Estatal de Participaciones Industriales (SEPI) for help on the verge of the end of the public business rescue fund. The energy and telecommunications infrastructure installation company has confirmed to the CNMV that it has requested 70 million euros in public money. The aim is to recover the group’s…

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The State To Enter Spanish Companies Via The Purchase Of Shares, Debt Or Other Convertible Instruments

The fund worth €10 Bn will rescue companies with solvency problems such as airlines and hotel chains damaged by Covid-19. It will be managed by the State Society of Industrial Participations (SEPI) and will allow the state to temporarily enter, for 6 or 7 years, the capital of private firms This will be done with the purchase of shares, debt or any other instrument convertible into capital. If after that time the company needs additional support, it will need a restructuring plan which will be transferred to Europe.


Will Correos follow Deutsche Post’s privatisation model?

By Sergio Sáiz | | SEPI, the State organisation that holds public stakes in Spanish companies, could obtain between €700 million and €2.5 billion with the privatisation of the national postal group Correos. It will depend on the formula used to sell it. The case of Deutsche Post could be a model to imitate. Correos has a staff of around 62,000 people. This point, which could be an engine for employment in Spain,…