Telefónica will have more Saudi capital: the government will say yes to 9.9% of its capital

Telephone will have 9.9% Saudi capital just as the operator dependent on the state of this country, STC, wanted it, which In September 2023, she made a bid to purchase this package.

It seems that now it will come true.

And, according to reports country The government will allow their entry, contrary to what was initially stated: that be an operator chaired by José María Álvarez Pallete a strategic company for our country, Moncloa, in principle, was not ready to give its approval.

In fact, the operation, brokered by Morgan Stanley, was paralyzed as soon as the government announced its intention.through SEPI, purchase up to 10% of Telefónica, an operation that ended at the end of May this month. The public investment amount was 2.285 million euros for the operation, which was approved in December 2023 and which began to be carried out with the first purchases on March 25 of this year.

2024 will be a good year for Telefonica in the market with growth of 22.4%. This year is down 2.5% in a month, up 5.9% in one quarter, and Ibex is up just over 6% over the past week. With a dividend yield that is one of the best on the market, approaching 7%.

A value that fell almost 5% from interannual highs. reached October 17, while from the lows at the end of December last year, the operator’s shares rose by 22.8%.

In terms of forecasts, the latest data collected by the market is negative. The Reuters average, which iswith a target price of €4.21 per share and a downside potential of 2.7%. recommends keeping your shares.

Already in the case of Alantra, the rating of its analyst Fernando Abril Martorell is being sold. with a target price of €3.98 and a potential expected drop of 8%.

from the current price level.

Better for Barclays which visualizes 4.5 euros per share from 4.40 euros. precedents in her target price, giving her a margin of improvement over yesterday’s closing price of 4%.