SEPI exceeds 9% in Telefónica after increasing the pace of purchases

The State Society of Industrial Participations (SEPI) has already exceeded 9% of the capital in Telefónica after accelerating the pace of purchases in recent sessions.

Oliver Thansan
Oliver Thansan
15 May 2024 Wednesday 10:29
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SEPI exceeds 9% in Telefónica after increasing the pace of purchases

The State Society of Industrial Participations (SEPI) has already exceeded 9% of the capital in Telefónica after accelerating the pace of purchases in recent sessions. If just two days ago the arrival of 8.5% was reported, now another part of the capital is added to reach 9.038%, as reported to the American stock market regulator, the SEC.

The last purchase package is made at a slightly higher price than the previous one, at an average of 4,017 euros per title, when a few days ago it paid 4,011 euros. In the latest purchasing spree, the State acquired 28.3 million shares, which would mean a disbursement of 113.7 million euros. Since the start of SEPI purchases, almost 2,059 million euros have already been spent. He already owns 512 million Telefónica shares.

Thus, SEPI continues to advance in the plan that was set in December to reach 10%, in response to the landing of the Saudi STC with up to 9.9% of the capital - 4.9% in direct shares and 5% in financial derivatives.

The participation of the State has already resulted in the appointment of a representative on the board of directors, which was completed a week ago with the election of the economist Carlos Ocaña Orbis, close to Pedro Sánchez, as a proprietary director.