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VisitSpanish Government Approves STC's 9.97% Stake in Telefónica After 15 Months
Nov 28, 2024, 11:17 AM
The Spanish government, after a 15-month review, has approved the acquisition by Saudi Telecom Company (STC) of a 9.97% stake in Telefónica, increasing its current holding from 4.9%. The decision, announced by Economy Minister Carlos Cuerpo, allows STC to appoint a board member, marking a significant foreign investment in the Spanish telecommunications sector. The approval comes with conditions, reflecting the government's cautious approach to foreign ownership in strategic industries.
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Markets
Yes • 50%
No • 50%
Announcements from the Spanish government or relevant regulatory bodies
No • 50%
Yes • 50%
Official announcements from STC or Telefónica, or filings with Spanish regulatory bodies
No • 50%
Yes • 50%
Official press releases from Telefónica or STC, or announcements in Spanish financial news
Significant increase • 25%
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Stock market data and analysis from financial platforms
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Market reports from financial analysts or official company reports
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