Spain to authorise Saudi Arabia’s 10% stake in Telefónica, valued at €2.3 billion

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Banco Sabadell : The Ministry of Defence will unblock the purchase of 9.9% of TEF by STC (it already holds 4.9% directly). Thus, according to this information, in the next few days the Government will approve the acquisition of this stake, valued at ~2,300 M euros.

Assessment: Expected news, no impact. Other shareholders are: SEPI (10%), Criteria (9.99%), BBVA (4.94%), Vanguard (3.56%).

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.