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How will STC's 9.9% stake affect Telefónica's market position in Europe by November 28, 2025?
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Story
Spanish Government Approves STC's 9.9% Stake in Telefónica, Board Seat Pending
Nov 28, 2024, 11:15 AM
The Spanish government has approved a significant investment in Telefónica by Saudi Arabia's state-owned telecommunications company, STC Group, allowing it to acquire up to 9.9% of the company's shares. This decision comes after a 15-month wait and opens the door for STC to appoint a representative to Telefónica's board.
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