Spain Will Protect ‘Strategic Autonomy’ in Telefonica Stake Sale

Spain Will Protect ‘Strategic Autonomy’ in Telefonica Stake Sale

After Saudi Telecom Co. purchased a nearly 10% stake in telecom giant Telefonica SA for around $2.25 billion, a government spokeswoman said Spain will make sure it respects the country’s “strategic autonomy.”

In an interview with state-run station TVE, Isabel Rodriguez, who is also the minister of territorial affairs, stated that “the administration sets in motion channels to protect our strategic autonomy.”

“Telefonica is a strategic firm as well as a symbolic one.”

After Saudi Telecom Co. purchased a nearly 10% stake in telecom giant Telefonica SA for around $2.25 billion, a government spokeswoman said Spain will make sure it respects the country’s “strategic autonomy.”

In an interview with state-run TVE, Isabel Rodriguez, who is also the Spain Will Protect ‘Strategic Autonomy’ minister of territorial affairs.

Stated that “the administration sets in motion channels to protect our strategic autonomy.” “Telefonica is a strategic firm as well as a symbolic one.”

According to a document made late Tuesday. TGhe Saudi government-controlled business bought around 569 million shares and is employing financial instruments that would ultimately give.

Spain Will Protect ‘Strategic autonomy.

It a 9.9% holding in Telefonica once sanctioned by regulators. The Spanish government might need to approve stake purchases worth more than 5%.

Spain has announced plans to maintain “strategic autonomy”. During the imminent sale of a stake in Telefonica, one of the nation’s top telecoms corporations.

In an effort to protect its strategic interests and national telecommunications infrastructure. This choice demonstrates Spain’s resolve to draw in foreign investment while maintaining control and influence over important areas.

The Selling of Stakes

As part of its overall economic and financial plan. Spain has been considering selling a sizable portion of its ownership in Telefonica.

This action aims to increase funding for various economic development projects and draw in foreign investment.

Keeping National Interests in Mind

The stake sale is considered as a chance to pump new money into the Spanish economy. But the government is adamant about safeguarding its national interests and keeping Spain Will Protect ‘Strategic Autonomy’ control of the vital telecommunications infrastructure.

The idea of “strategic autonomy” highlights the government’s dedication to striking a balance between the financial gains.

From the sale and the requirement to keep control and influence over important economic sectors.

Role of Telefonica:

One of the biggest telecom firms in Spain, Telefonica is essential to the nation’s connectivity and digital infrastructure.

For the sake of national security, emergency response capacity, and economic resilience. It is crucial that Spain maintain control of key telecommunications assets and networks.

Peter James

Peter James

Admin Peter James, AZ24News.com | Peter James is the admin of AZ24News, a news website that provides coverage of news and events in World. He has been with the company and has helped to grow the website into a respected source of news for the community. Peter is passionate about providing accurate and unbiased News for Everyone. He is also committed to creating a website that is user-friendly and easy to navigate.
8

3 thoughts on “Spain Will Protect ‘Strategic Autonomy’ in Telefonica Stake Sale”

Leave a Comment

Social Media Auto Publish Powered By : XYZScripts.com