SEPI confirms that it "explores" buying a stake in Telefónica

MADRID, 31 Oct. (EUROPA PRESS) -

The State Society of Industrial Participations (SEPI) confirmed this Tuesday to the National Securities Market Commission (CNMV) that it is considering purchasing a stake in Telefónica.

The SEPI has assured that it has been "monitoring" the situation of the Spanish operator and that it is carrying out an "internal exploratory analysis" related to a possible acquisition of a shareholding in Telefónica.

"This analysis by SEPI does not presuppose the adoption of a decision that involves said acquisition," concludes the statement, in which it does not specify the percentage it is considering acquiring.

Yesterday, the Government spokesperson and acting Minister of Territorial Policy, Isabel Rodríguez, reiterated the strategic nature of Telefónica for Spain and avoided commenting on the possible entry of the SEPI, an organization dependent on the Ministry of Finance, in the operator's share capital. , together with a group of Spanish investors.

"It is a strategic company for Spain due to its role in the field of telecommunications, but also in the field of defense. We are not going to comment on each of the information that is published about these operations due to the prudence required by the strategic relevance of the same," Rodríguez stressed in the press conference after the Council of Ministers.

The acting Government is analyzing options to reinforce Telefónica's Spanishness, which would include an eventual takeover of a 5% stake in the company's capital, led by SEPI and in coordination with other national investors.

The objective of this movement would be to "preserve national interests" in the operator after the landing of the Saudi group STC in the company, which on September 5 announced that it had acquired 9.9% of Telefónica - 4.9% in shares and 5% in derivatives--, although the operation must still be approved by the Government to be completed.