Market
Will STC increase its Telefónica stake beyond 10% by the end of 2025?
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Saudi Telecom Company•STC•SEC•Telefónica•Luxco•Green Bridge Investment•Spanish•Morgan Stanley•Marc Murtra•Public Investment Fund•SEPI
Resolution / Starting Odds
Yes • 50%
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SEC filings or official announcements from STC or Telefónica
Story
STC, Through Luxco, Boosts Telefónica Stake to 9.97%, Aims for Board Seat Amid Leadership Change
Jan 24, 2025, 09:11 AM
Saudi Telecom Company (STC) has informed the U.S. Securities and Exchange Commission (SEC) that it now controls a 9.97% stake in Telefónica, up from a previous 4.9%, through its wholly-owned subsidiary Luxco, officially known as Green Bridge Investment. This increase in ownership was authorized by the Spanish government in November of the previous year. STC, which completed the acquisition of 565.28 million shares on January 17 via a deal with Morgan Stanley, has expressed its intention to seek a seat on Telefónica's board of directors. The move comes shortly after the departure of José María Álvarez-Pallete from the presidency of Telefónica, with Marc Murtra taking over the role. STC's acquisition, backed by the Public Investment Fund, is for investment purposes, positioning it as a significant shareholder, second only to the Spanish state's Sociedad Estatal de Participaciones Industriales (SEPI), which holds a 10% stake in Telefónica.
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Similar markets
No • 50%
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SEPI, STC, and no change • 25%
SEPI, STC, and another entity • 25%
SEPI, STC, and a new investor • 25%
SEPI, STC, and a current minor shareholder • 25%
SEPI remains largest • 25%
Criteria Caixa becomes largest • 25%
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STC becomes largest • 25%
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Focus on digital transformation • 25%
Cost-cutting and restructuring • 25%
Expansion into new markets • 25%
Other strategic focus • 25%