Díaz advocates protecting the "digital future" of Spain before the Saudi purchase of Telefonica

by archynewsycom
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The Second Vice President of the Government and Minister of Labour, Susana Diaz, Tonight he defended protecting the “digital future” of Spain in the face of the purchase operation of a large package of Telefónica shares by a Saudi group.

“Preserving our strategic autonomy is essential. Spain must ensure decision-making in companies such as Telefónica, guardians of sensitive data”, Diaz has opined in a message on X (former Twitter).

For the vice president and leader of Sumar, “better regulation and protection are necessary to avoid takeover bids.” “We must protect our digital future”, concludes.

The Saudi telecommunications company STC Group has bought a 9.9% stake in Telefónica for 2.1 billion euros, making it the first shareholder of the Spanish operator, as reported today by the Arab company in a statement.

Telefónica has also informed the National Securities Market Commission (CNMV) of the operation, which will be carried out through the acquisition by Saudi Telecom of shares representing 4.9% of Telefónica’s share capital and financial instruments for another 5%.

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