SEPI, Spain’s industrial public entity, is planning to acquire a 5 per cent stake in Telefónica.

The move is aimed at strengthening the presence of the State in a “strategic company” such as Telefónica at a time when Saudi’s STC is taking an important stake in the operator, subject to the Government’s approval. According to El Economista, STC would ultimately keep a 4.9 per cent stake in Telefónica instead of the initial 9.9 per cent.

SEPI, under control of the Treasury Ministry, has confirmed to the CNMV that an “exploratory analysis is being made about a possible share acquisition in such company”.

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Categories: Articles, Business, M&A

Tags: Saudi, sepi, spain, telefonica