SEPI launched its divestment plan in Telefónica and bought 3% of the shares

The State, through the State Company for Industrial Shares (SEPI), reported on Monday to the National Securities Market Commission (CNMV) the purchase of shares in Telefónica equivalent to a 3% stake in the company's capital. This is the decision that was taken in the Council of Ministers on December 19, and it is now being implemented. According to the CNMV, compliance with this agreement “requires SEPI to purchase shares of a maximum of 10% of the company’s capital, and the state company has reached 3%, indicating the acquisition of significant shares upon reaching the minimum stipulated by the CNMV.” The authority notes Regulatory in its statement to the regulations related to this matter.

“The entry of SEPI, a shareholder with a permanent career, will allow Telefónica to provide greater stability to shareholders to achieve its objectives, contributing to the protection of the strategic capabilities of a strategic company of national interests due to its leadership in the field of telecommunications and its industrial capabilities determining factors in areas such as security,” he adds. And defense.

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phone It is one of the major companies in the country A pioneer in the telecommunications sector and a key in other strategic areas, which are the reasons that prompted the country to prepare for his landing in the company. The company headed by José María Álvarez Ballete is crucial for its industrial capabilities and knowledge areas, because it develops activities relevant to the economy and productive fabric, including those related to security and defence.

“Having a public shareholder in Telefónica will enhance shareholder stability, thus preserving strategic capabilities that are fundamental to national interests,” SEPI said in a statement in December. The entry into this company is in line with decisions taken by other European countries: Germany owns 13.8% of Deutsche Telekom's share capital; France has 13.39% in Orange; o Italy, which adopted an agreement in August 2023 to increase its stake in the company that aggregates the fixed telephone assets of Telecom Italia to 20%.

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