Government Stakes in Telefónica: SEPI Acquires 3% and Strengthens the Spanish Core”.

Government acquires 3% stake in Telefnica, becoming a new shareholder.

The State Industrial Participation Company (SEPI) has acquired a 3% stake in Telefónica after being authorized by the Government to become a shareholder in the company. SEPI’s investment will provide Telefónica with greater stability and contribute to safeguarding its strategic capabilities.

The stake consists of 175 million shares valued at approximately 700 million euros based on market prices, which have risen to 3.99 euros in recent weeks. With SEPI’s entry and CaixaBank’s reduction of 1% of its shares in the market, the State becomes the fourth largest shareholder in Telefónica.

Telefónica has emphasized the importance of its strategic role as a leading player in telecommunications and digital development. The company also highlighted its commitment to delivering excellent service to customers through its strategic plan, while acknowledging its significant contribution to Spain’s economic growth and development.

The Council of Ministers had initially authorized SEPI to purchase up to 10% of Telefónica in December, but there were initial doubts due to financial constraints. However, as Telefónica’s shares surged, the operation gained momentum, with CaixaBank also reducing its stake in the company. This move aligns with CaixaBank’s strategy of rotating its position within Telefónica.

The reduction in CaixaBank’s participation diminishes the “Spanish core” within Telefónica, which is composed of BBVA and CaixaBank’s shares. The Government aims to strengthen this core by acquiring 10% of Telefónica through SEPI as part of a broader strategy involving financial restructuring and stake adjustments within the company.

In conclusion, SEPI’s acquisition of a 3% stake in Telefónica is seen as a positive step towards safeguarding Spain’s industrial capabilities and ensuring long-term stability for this important telecommunications company.

The State Industrial Participation Company (SEPI) has acquired a 3% stake in Telefónica after being authorized by the Government to become a shareholder in the company. SEPI’s investment will provide Telefónica with greater stability and contribute to safeguarding its strategic capabilities. The stake consists of 175 million shares valued at approximately 700 million euros based…

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