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...The Spanish state will acquire a stake of up to 10 per cent in Telefónica to give the company “shareholding stability” in response to a move by Saudi Arabia’s STC to buy shares in the group....
...The cuts will affect three units: Telefónica de España, Telefónica Móviles Spain, and Telefónica Soluciones, which employ 16,500 of the approximately 21,000 people who work for Telefónica in Spain....
...The Spanish government is considering taking a stake in Telefónica in response to a move by Saudi telecoms group STC to acquire 9.9 per cent of the company....
...Spain’s decision raises the stakes in the battle for influence at Telefónica, a national champion with businesses in security and defence....
...If it secures nearly 10 per cent of Telefónica’s share it will catapult past CaixaBank and BBVA — two pillars of corporate Spain — to become Telefónica’s largest shareholder....
...majority-owned by the country’s sovereign wealth fund, said it was not seeking a controlling stake in Telefónica....
...Madrid has said it will take all necessary steps to defend its “strategic interests” after Saudi telecom group STC took a 9.9 per cent stake in Telefónica, one of Spain’s biggest companies....
...The Saudi company, which is majority-owned by the country’s sovereign wealth fund, said it was not seeking a controlling stake in Telefónica....
...Telefónica would add to these not only in Spain but in Brazil, Germany and the UK....
...Telefónica took note of “STC’s friendly approach and its support [of] the management team, Telefónica’s strategy and ability to create value”....
...results are due from UK high-street lender Lloyds Banking Group, French yoghurt maker Danone, Swiss food giant Nestlé, German premium carmaker Mercedes-Benz, UK engine maker Rolls-Royce and Spanish telco Telefónica...
...Big share price moves in Europe on Wednesday include Spain’s Telefónica, Belgian biotech Argenx, and UK housebuilders....
...Signatories included Timotheus Höttges at Deutsche Telekom, Christel Heydemann at Orange, José María Álvarez-Pallete at Telefónica and Pietro Labriola at Telecom Italia....
...Saudi telecoms group STC made waves in Spain last year with a bid to buy 10 per cent of telecoms group Telefónica....
...Earnings are also due from 3i Group, ArcelorMittal, Auto Trader, B&M European Value Retail, Flutter Entertainment, Leonardo, National Grid, Pirelli, Tate & Lyle, Telefónica, Veolia, WHSmith and Wizz Air....
...The company, jointly owned by Liberty Global and Spain’s Telefónica, said adjusted revenue rose 1 per cent to £2.8bn for the three months to September 30, in comparison with the same period last year....
...Virgin Media O2, which is jointly co-owned by Liberty Global and Spain’s Telefónica, is in the process of upgrading its entire fixed network to full fibre and is also a supplier for nexfibre, a joint venture...
...he said, adding that Zegona wants to talk to Telefónica, MásMóvil and Orange about sharing opportunities across mobile, fixed line, fibre and databases....
...“We executed our strategy to build a stronger, future proof Telefónica.” Telefónica’s share price increased by 2 per cent to €3.88 in early morning trading, while Deutsche Telekom’s was flat at €21.24....
...STC said in a press release that it had acquired 4.9 per cent of Telefónica’s shares as well as “financial instruments giving economic exposure to a further 5 per cent of Telefónica’s share capital”....
...O2 — now merged with Virgin Media and jointly owned by Liberty Global and Telefónica — said there has been “no contact” with its legal team on this claim but that the company launched contracts a decade...
...In a keynote speech this week at a global telecoms conference in Barcelona, alongside the chief executives of Spain’s Telefónica and Germany’s Deutsche Telekom, Della Valle and Heydemann called on regulators...
...In December, the Spanish government said it would buy up to 10 per cent of Telefónica in response to a move by the PIF-owned STC to acquire a similar-sized holding....
...Virgin Media O2, which is jointly owned by Liberty Global and Telefónica, is also looking to challenge Openreach....
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