The State Industrial Participation Company (SEPI) informed the National Securities Market Commission (CNMV) on Tuesday that it crossed the 8% threshold in Telefónica's share capital on May 9.
In this way, SEPI continues to advance the government's mandate to acquire up to 10% of the operator under the chairmanship of José María Álvarez-Pallete, a move that took place in response to the surprise landing of the Saudi telecom STC in Telefónica last September.
Specifically, STC acquired 9.9% of Telefónica's share capital – 4.9% in direct shares and 5% in financial derivatives – in an operation worth 2.1 billion euros.
On May 8, SEPI informed the CNMV that it had exceeded 7% of the operator's capital. Specifically, he reported that his stake in Telefónica then amounted to 7.079%, with a total of 407,050,664 shares.
On May 8, Telefónica's board of directors unanimously agreed to accept the “voluntary resignation” of Carmen García de Andrés from her position as director and appointed Carlos Ocaña Orbis by co-optation as director, representing SEPI.
This feature is for subscribers only
Subscribe