The State Industrial Ownership Corporation (Sepi), the public body controlled by the Government through the Ministry of Finance, will take up to 10% of the capital of Telefónica (TEF), which will make it the largest shareholder of the telecommunications operator, ahead of Caixa, BBVA and Saudi Arabia’s STC. The Sepi informed the CNMV on Tuesday in a note in which it stated that “the Council of Ministers in its meeting…
Link Securities| In connection with the publication of the relevant offer document relating to the voluntary partial takeover bid launched by Telefónica – through Telefónica Local Services GmbH – for shares of Telefónica Deutschland Holding AG, the company informs that the Management Board and Supervisory Board of Telefónica Deutschland have issued the relevant joint report on the Offer. According to the report, the Management Board and the Supervisory Board of…
Link Securities | Telefónica is finalising the tender to hire a new technology provider for part of its core 5G mobile network in Spain. The decision will mean the definitive exit of Huawei from its network, in line with the Western veto of Chinese companies. The newspaper notes that Ericsson or Nokia are the favourites to win the new contract worth many tens of millions. US government restrictions, as well…
Bankinter | Telefónica has launched a takeover bid for 28.19% of its subsidiary in Germany. The company owns the remaining 71.81% of the capital and voting rights of the German subsidiary. The Offer will be formulated as a purchase and sale of shares. The consideration offered to Telefónica Deutschland shareholders is €2.35 in cash per share, representing a premium of approximately (i) 37.6% to the closing price of Telefónica Deutschland…
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…
Bankinter| The company will present a redundancy plan for up to 5,000 employees in Telefónica Spain. In addition, there is talk in the media of a possible interest of a consortium led by RRJ in buying Vodafone Spain. As for the redundancy programme, Telefónica will present the programme to the unions before Investor’s Day on 8 November. It expects around 2,500 employees to take redundancy. Although unconfirmed, media reports anticipate…
Alphavalue/DIVACONS | The Supreme Court ruled in favour of the trade unions on the start of paid leave at Telefónica (TEF), a battle that began in 2018 over the interpretation of the group’s first collective agreement for related companies and in which the Court ruled that paid leave must begin on the first working day following the event causing it. On the other hand, the European Commission gave its approval…
Link Securities| The government is considering imposing conditions on the entry of the Saudi group STC in Telefónica (TEF), according to information from Bloomberg and as reported on Tuesday by the Expansión newspaper. These would include limiting the sale of assets or limiting the payment of dividends. The possibility of applying some of the restrictions that were applied when the IFM fund became a shareholder of Naturgy (NTGY) is also…
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.
STC Group, the leading Saudi Arabian investor, has acquired a 9.9% stake in Telefónica for a total of 2.1 billion euros, it said in a statement on Tuesday. The first telecommunications company in Saudi Arabia has stated that it has no intention of “taking control” of the company headed by José María Álvarez-Pallete, among other reasons because it requires the cooperation of the Spanish government to do so. The dividend…