Spain's State Holding to Buy Up to 10% Stake in Telefonica
December 19 2023 - 12:58PM
Dow Jones News
By Helena Smolak
Spain's state holding company, Sociedad Estatal de
Participaciones Industriales, will acquire a stake of up to 10% in
the country's largest telecom company, Telefonica.
SEPI said Tuesday that the move is aimed at providing Telefonica
with greater shareholder stability. Spain's Council of Ministers
ordered SEPI to carry out the acquisition.
Telefonica didn't immediately respond to a request for
comment.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
December 19, 2023 12:43 ET (17:43 GMT)
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