SEPI acquires Telefónica shares, becoming 3% of company ownership

Spain Reacquires a 10% Stake in Telefónica from Saudi Arabia after Foreign Investment Worries

The State has regained a 10% stake in Telefónica 26 years after divesting. This was prompted by the Saudi STC’s purchase of 9.9% of the company’s shares, which caused tension. The order to buy shares came from the State Society of Industrial Participations (SEPI) following the government’s decision. SEPI already holds a 3% stake in Telefónica, and the recent acquisition will bring the total to 10%, costing around 700 million euros.

The process of acquiring shares has been ongoing for days, but it was officially announced on Monday. Coincidentally, CaixaBank reduced its stake in Telefónica from 3.51% to 2.51% around the same time. Telefónica confirmed that SEPI’s purchase aligns with the government’s goal of acquiring a 10% stake. While CaixaBank has reduced its position, Criteria expects to increase its percentage through further acquisitions.

The entry of Saudi STC into Telefónica’s capital raised questions about its intentions, as they continue to remain silent on their plans. Both Telefónica and STC have not provided further information about the situation. The State’s resurgence as a shareholder aims to stabilize shares and ensure a strategic position in the company. Despite ongoing developments surrounding ownership changes in Telefónica, many factors remain uncertain.

In response to Saudi STC’s acquisition of shares in Telefónica, Spain has reacquired a stake that it had divested from over two decades ago. This move comes after much debate among investors and regulators alike.

Following Saudi Arabia’s announcement that it had acquired nearly 10% of Telefónica shares, there were concerns that other foreign investors might also make similar investments.

As such, Spain decided to take action and acquire another stake in telecommunications giant Telefónica – this time from Saudi Arabia itself.

According to reports, Spain purchased a significant chunk of shares for around €700 million ($845 million), bringing its total stake in Telefónica up to nearly 20%. This move will give Spain greater influence over the company and secure its position as one of Europe’s largest telecom providers.

Despite this development, however, uncertainty remains surrounding ownership changes at Telefónica.

For example, just days before this announcement was made, Spanish bank CaixaBank reduced its own stake inTelefonica from over 3% to just under 3%. And while some analysts say this move could pave the way for further consolidation within the telecom industry, others warn that it could lead to further instability.

Furthermore, there is still no word on what exactly Saudi Arabia wants with its newfound stake inTelefonica – or if it even intends to keep holding onto it for long.

All these factors mean that while Spain may have secured a stronger position atTelefonica today than ever before – there are still many uncertainties surrounding ownership changes at this crucial European telecom giant moving forward.


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