Spain’s Sociedade Estatal de Participações Industriais (Sepi) reached 10% of Telefónica’s share capital and thus concluded the purchase operation ordered by the Council of Ministers. In a statement issued this Monday, the 20th, the state-owned company states that the operation was carried out minimizing the impact on the share price and complying with the communications of significant holdings established in the regulations of the markets where it operates.
Telefónica is one of the main companies in the country, a leader in the telecommunications sector and key in other strategic areas. The company is decisive for its industrial capabilities and areas of knowledge, as it develops activities relevant to the economy and the productive fabric, including those related to security and defense, states the publication. With a vocation for permanence, Sepi’s participation provides greater shareholder stability to the company to achieve its objectives and contributes to the protection of its strategic capabilities, he concludes.
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