Norbolsa: The Government is preparing to take a stake of close to 5% in Telefónica led by SEPI in coordination with other national investors in order to balance the entry of Saudi Arabia. Given the high amount of the acquisition of this 5%, which would be around €1,000 million, the Moncloa is working to bring together the interest of several Spanish business people to join this initiative, which would mean…

Alphavalue/DIVACONS | The Supreme Court ruled in favour of the trade unions on the start of paid leave at Telefónica (TEF), a battle that began in 2018 over the interpretation of the group’s first collective agreement for related companies and in which the Court ruled that paid leave must begin on the first working day following the event causing it. On the other hand, the European Commission gave its approval…

Norbolsa| Saudi Telecom will have to inform Defence about its plans in Telefónica (TEF) if it wants to obtain the government’s permission. In this regard, the Ministry of Defence updated on 1 September the information requirements it requests from foreign investors who buy more than 5% in companies linked to the Spanish Armed Forces, which is the case of Telefónica, for its communication and technology services to the Army.

STC Group, the leading Saudi Arabian investor, has acquired a 9.9% stake in Telefónica for a total of 2.1 billion euros, it said in a statement on Tuesday. The first telecommunications company in Saudi Arabia has stated that it has no intention of “taking control” of the company headed by José María Álvarez-Pallete, among other reasons because it requires the cooperation of the Spanish government to do so. The dividend…