Government aims to quickly reach 10% stake in Telefónica as share price hits May highs

During a press conference, Government spokesperson Pilar Alegra announced that the Executive hopes the State Society of Industrial Participations (Sepi) will acquire 10% of Telefónica as quickly as possible. This comes after Sepi announced that it currently holds 3% of the telecommunications company’s shares. Alegra emphasized the importance of completing the operation swiftly without negatively impacting the share price.

However, Alegra’s comments had the opposite effect, as Telefónica’s shares began to rise following her statements. By 4:30 p.m., the shares had reached 4.08 euros, a significant increase of 2.26%. The rush to complete the operation could result in a higher final bill for the government, as it will need to disburse an additional 1,600 million euros to reach the desired 10% ownership of the operator.

Despite this unexpected turn of events, Sepi is not required to notify new purchases until it reaches 5% ownership of the company. This uncertainty about the future of Telefónica’s shares and the overall cost of the acquisition for the government has caused stakeholders and investors to closely monitor the situation and its potential impact on the telecommunications market.

The Government spokesperson, Pilar Alegra, stated during a press conference that they hope for Sepi to acquire 10% ownership in Telefónica as soon as possible. However, her comments caused an unexpected surge in Telefónica’s share price by 4:30 p.m., reaching €4.08 per share – an increase of 2.26%. The rush to complete this operation may lead to a higher final bill for

By Sophia Gonzalez

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