The Spanish state’s investment company progressed towards its goal of acquiring a ten percent ownership stake in Telefónica, following its recent acquisition of shares, which brought its ownership to six percent.
The Society of Industrial Participations (SEPI), a government-owned organization, declared in a statement that it has notified the country's stock market regulator, CNMV, about its most recent purchases.
SEPI is actively working to gather shares to attain a ten percent equity position in the operator. However, it is striving to acquire these shares in a manner that minimizes any potential impact on the price, while also adhering to relevant regulatory obligations.
Approximately a month ago, it disclosed the acquisition of its initial three percent stake.
SEPI emphasized that its increased interest in the business offers "greater shareholder stability to the company to achieve its objectives and contributes to the protection of the strategic capabilities of a key company in the telecommunications sector." It highlighted the company's pivotal role in the industry and its significance in relation to national security.
The Spanish government instructed the stake acquisition three months after the Saudi operator, stc, invested EUR 2.1 billion in a position in the operator.
