Spain Says It’s Analyzing Saudi Telecom Investment in Telefonica

📆 9/15/2023 2:19 PM
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Spain is analyzing Saudi Telecom Co.’s plan to become Telefonica SA’s largest shareholder, and has legal instruments to protect the country’s strategic interests, Prime Minister Pedro Sanchez said.

largest shareholder, and has legal instruments to protect the country’s strategic interests, Prime Minister“The government is analyzing the investment operation thoroughly,” Sanchez said on Friday at an event in Madrid.

“We have the adequate instruments to exercise the necessary controls and we will guarantee that at all times national defense and security, understood in a broad sense, will be safeguarded. And we also guarantee that any foreign investment will not exceed the limits that would involve undue influence over strategic companies, or access to critical technologies.”

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