The First Vice President of the Government and Minister of Finance, María Jesús Montero, said on Wednesday that the Ministry of Finance gave “priority” to financing to acquire up to 10% of Telefónica, having made a transfer to the Société Nationale de Participations Industrielles (SEPI) for the purchase of 3% of the capital of the operation announced last Monday.

“We made the transfer to SEPI and This is how we will continue to do it even with the extended budgets“Montero confirmed in statements to RNE.

The first vice-president recalled that SEPI has the authorization of the Council of Ministers to reach up to 10% of Telefónica and underlined that the participation percentages will be communicatedjust as was done on Monday with the purchase of 3%.

“Telefónica is a strategic company in our country, it is a listed company and, therefore, There is no need to cause any type of informational turbulence that could actually cause some movement in price.” said Montero.

The minister stressed that the fact that the titles of the Spanish operator rose yesterday on the stock market above 4 euros notes that investors “received SEPI’s entry into Telefónica very favorably”.

“After having clarified by the Government that We will continue until we have completed 10%, there was a rebound in the stock price. So we are moving in the right direction,” Montero added.

The first vice-president insisted that Telefónica “is a very important company” for Spain and stressed that the government’s objective is to “strengthen its strategic capabilities so that it can be on par with its German and French competitors”, countries in which their governments “have been participating for some time through different instruments within shareholding of hegemonic companies”. “.

By wbu4c

Leave a Reply

Your email address will not be published. Required fields are marked *