Logo ofSaudi Telecom Co. (stc)
Saudi Telecom Co. (stc) completed today, Feb. 6, all necessary procedures to increase its voting rights in Telefónica from 4.97% to 9.97%, according to a statement on Tadawul. 
According to data available on Argaam, stc obtained, in November 2024, a foreign investment authorization from the Spanish Cabinet, allowing for the former’s increase in its voting rights in Spain-based Telefonica from 4.97% to 9.97% and the right to appoint a board member in the company.
For more news and details on MAs
In September 2023, stc completed the acquisition of a 9.9% stake in Telefónica, with the total deal value reaching €2.1 billion (approximately SAR 8.5 billion).
Logo ofSaudi Telecom Co. (stc)
Saudi Telecom Co. (stc) completed today, Feb. 6, all necessary procedures to increase its voting rights in Telefónica from 4.97% to 9.97%, according to a statement on Tadawul.
According to data available on Argaam, stc obtained, in November 2024, a foreign investment authorization from the Spanish Cabinet, allowing for the former’s increase in its voting rights in Spain-based Telefonica from 4.97% to 9.97% and the right to appoint a board member in the company.
For more news and details on MAs
In September 2023, stc completed the acquisition of a 9.9% stake in Telefónica, with the total deal value reaching €2.1 billion (approximately SAR 8.5 billion).
