Marc Murtra meets in Saudi Arabia with STC at the gates of his landing at the Telefónica Council

The top executive of the Teleco has traveled to Riyadh (Saudi Arabia) To meet with one of the main shareholders of the operator, STC, which received the authorization to reach 9.97% of the operator’s capital a few months ago. At the moment it maintains 4.9% of Telefónica directly and has options for another 5% to convert; In total, it will add that 9.97% with which it will also enter the Board of Directors.

This trip is part of an intense contact agenda that the new operator’s first executive has deployed as soon as they arrive at office, according to Fuentes de Telefónica. And they add that the encounter with STC There is just a few days after Murtra met with the main managers of Telefónica at the headquarters and that began a travel round through the main countries where the operator has a presence, such as her recent visit to VMO2, her business in the United Kingdom .

The visit to Riad to meet with STC (the usual interlocutor with the Arabs is usually his CEO, Olayan M. Alwetaid) is part of the relationships that Murtra is filing with the main interest groups that are around Telefónica. And since STC is not yet represented in the Council it was necessary to have that direct contact.

The Saudis are expected to soon request their landing at the highest governing body but first they will have to complete their investment in the telecommunications company turning 5% into options they have under a contract with Morgan Stanley. When that moment comes, Telefónica must make a hole in the Council.

Thus, this visiting expressly with the Saudis and not with other shareholders is produced because the rest of Telefónica’s great owners are already represented in the Board of Directors and have had mutual treatment with Murtra since their arrival. These great shareholders are Critia Caixa, the SEPI and BBVA.