Telefónica has welcomed a new shareholder, the State Industrial Participation Company (SEPI), which has acquired a 3% stake in the company. The Government approved SEPI’s entry into Telefónica’s capital, and the company aims to provide stability to help achieve its objectives and protect strategic capabilities. The stake consists of 175 million shares valued at approximately 700 million euros based on market prices.
The addition of SEPI as the fourth largest shareholder in Telefónica, after BBVA, BlackRock, and the STC Group, highlights the company’s strategic importance. CaixaBank has reduced its stake in Telefónica to 2.5% by selling a portion of its shares. The La Caixa Banking Foundation, through Criteria, has been increasing its position. Isidro Fain, vice president of the group’s Board of Directors, is expected to extend his long-standing relationship with the company.
Telefónica views SEPI’s interest as a testament to its leadership and attractiveness in both telecommunications and the new digital era. The Government plans to strengthen the “Spanish core” in Telefónica by acquiring 10% of the company through SEPI. Despite uncertainty surrounding the operation due to budget constraints, the increasing share price of Telefónica suggests growing investor interest in
