King Felipe VI was not informed in advance about the intentions of the Saudi company STC to acquire 9.9% of Telefónica, according to sources from Operetta a Europa Press.
“In the King’s House No communication has been received from the STC company reporting the Telefónica share purchase operation,” the sources have stressed.
Zarzuela has thus come to the fore after the first insinuations heard in some gatherings that the Royal House “was aware” or that Zarzuela “had knowledge” of business activities.
The Spanish Royal Family has traditionally maintained a good relationship with the Saudis, especially at the time when Juan Carlos I was on the throne. Saudi Crown Prince, Mohamed bin Salmanwho is the one who holds power in the face of the fragile state of health of his father, the king Abdullah bin Abdelazizmade a visit to Spain in 2018 and then met with Felipe VI.
The news of the purchase by STC, of majority state capital, of 9.9% of Telefónica -becoming its main shareholder-, was known late on Tuesday.