SEPI reaches 10% of Telefónica shares after investment of almost 2.3 billion euros

SEPI acquired 10% of Telefonica’s capital for almost €2.3 billion in order to provide shareholder stability and protect the company’s strategic capabilities in key sectors.

State Society for Industrial Participation (SEPI)An organization linked to the Ministry of Finance has completed the acquisition of 10% of the share capital of Telefonica, thereby fulfilling the government mandate that was assigned to it at the end of last year, the institution said in an official statement sent to the National Securities Market Commission (CNMV).

As part of this transaction, SEPI acquired a total of 567,016,155 Telefónica shares at an average price of EUR 4.0295 per share, which means payment of approximately 2.285 million euros. This shareholding added to the 541 shares that SEPI already had in its portfolio, bringing the total number of shares acquired to 567,016,696.

The institution emphasized that the operation was carried out in such a way as to minimize the impact on the price of Telefonica shares, in compliance with all applicable rules in the markets in which the company operates.

SEPI said its participation in Telefonica’s capital is for long-term sustainability, aiming to ensure shareholder stability for the company to achieve its objectives. In addition, it is emphasized that this acquisition will help protect Telefonica’s strategic capabilities.