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VisitWhat strategic changes will occur at Telefónica due to STC by end of 2025?
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Official announcements from Telefónica or STC, or reports in business media
Spanish 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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