Spain takes 10% of Telefonica following Saudi stake

Spain said Tuesday it will acquire 10 percent of local telecoms giant Telefonica, just months after Saudi Telecom took a significant stake in the operator. The move follows the September announcement by Saudi Telecom (STC) it had paid 2.1 billion euros ($2.3 billion) for a 9.9 percent share in Telefonica which has a strong presence in Latin America and the United Kingdom.

  News   Dec 19, 2023   0   65  Add to Reading List
Spain takes 10% of Telefonica following Saudi stake

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Spain said Tuesday it will acquire 10 percent of local telecoms giant Telefonica, just months after Saudi Telecom took a significant stake in the operator. The move follows the September announcement by Saudi Telecom (STC) it had paid 2.1 billion euros ($2.3 billion) for a 9.9 percent share in Telefonica which has a strong presence in Latin America and the United Kingdom.
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