The State Industrial Participation Company (SEPI) has acquired a 3% stake in Telefonica, following the approval of the investment by the Government. As a shareholder committed to staying invested, SEPI aims to provide Telefonica with greater stability to achieve its goals and protect strategic capabilities. The investment is worth around 700 million euros based on market prices, making SEPI the fourth largest shareholder in Telefonica after BBVA, BlackRock and STC Group.

Telefonica’s industrial capabilities, particularly in areas such as security and defense, have attracted SEPI’s interest. The company sees this investment as a testament to its leadership and attractiveness both in telecommunications and the new digital era.

In other news, CaikaBank reduced its stake in Telefonica from 2.5% by selling part of its shares. This move is part of a strategy to reduce the bank’s exposure to the company, while La Caika Banking Foundation increased its position through criteria. Isidro Fain, Vice President of the Group’s Board of Directors, is expected to extend his long-standing relationship with the company.

The reduction of CaikaBank’s ownership weakens what is known as “the Spanish core” in Telefonica, which includes BBVA and Catalan banks. The government plans to strengthen this group by acquiring 10% of the company through SEPI. Despite budget constraints and uncertainty about the business, the rising price of Telefonica’s shares suggests growing investor interest in the company.

By Samantha Johnson

As a dedicated content writer at, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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