CriteriaCaixa, the investment holding of the ‘La Caixa’ Foundation, has increased its stake in Telefónica.
As reported this morning by the National Stock Market Commission, CriteriaCaixa has acquired 9.99% of the telecommunications multinational’s shares, thus doubling its previous stake.
Now, CriteriaCaixa is the second largest shareholder of Telefónica, just after the Spanish State, which holds 10% of the capital.
Aim to increase participation
CriteriaCaixa’s objective is to reach 10.1% of Telefónica’s shares, thus surpassing the share that SEPI achieved after the entry of Saudi capital.
This operation, valued at around 1.1 billion euros, seeks to give more shareholder stability to the telecommunications operator.
CriteriaCaixa’s strategic impulse
This increase in participation is part of CriteriaCaixa’s strategic plan for the coming years.
The investment holding seeks to increase the value of its asset portfolio and consolidate itself as a relevant player in strategic sectors such as banking, energy, telecommunications and utilities.
With this move, CriteriaCaixa demonstrates its confidence in the future of Telefónica and in its role as an essential company both for the country and internationally.
