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Saudi telco buys 9.9% of Telefónica

Saudi Arabia’s stc Group has acquired a 9.9% stake in Telefónica for €2.1 billion and is now the largest shareholder in the Spanish telco. However, it says it has no intention of securing control or a majority stake, rather seeing the move as “a compelling investment opportunity”. Commenting on the transaction, Mohammed K. A. Al…
Saudi Arabia Olayan Alwetaid Stc Group United Group Spain Council Of Ministers

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