{"id":53405,"date":"2024-11-29T16:47:09","date_gmt":"2024-11-29T13:47:09","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=53405"},"modified":"2024-11-29T23:08:23","modified_gmt":"2024-11-29T20:08:23","slug":"stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\/","title":{"rendered":"stc Group Receives Approval from the Spanish Council of Ministers as a Strategic Investor in Telef\u00f3nica"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Riyadh, 29 November 2024 &#8211;\u00a0<\/strong>stc Group, Saudi Arabia\u2019s leading digital enabler, announced that it has obtained approval from the Council of Ministers in Spain to increase its voting rights in Telef\u00f3nica\u2019s issued share capital to 9.97%, and the right to nominate a representative to the company\u2019s Board of Directors. This announcement follows the previously disclosed acquisition of a stake in Telef\u00f3nica.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The approval marks a significant step for stc Group, reinforcing its commitment to high-quality investments as part of its growth and expansion strategy.&nbsp;&nbsp;By acquiring stakes in key strategic assets, stc Group demonstrates confidence, in Telef\u00f3nica\u2019s ability to maintain its market-leading position, leveraging its infrastructure assets, advanced technological capabilities, and extensive presence across Europe and Latin America.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The approval underscores the Spanish government\u2019s endorsement of stc Group\u2019s role as a strategic shareholder, acknowledging its potential to contribute to Telef\u00f3nica\u2019s development and long-term growth.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Commenting on the approval, stc Group CEO Olayan Al-Wetaid said:<\/strong>&nbsp;\u201cObtaining the required approvals from the Spanish Council of Ministers reflects stc\u2019s role as a long-term strategic partner in Telef\u00f3nica. As one of the company\u2019s largest shareholders, we remain confident in Telef\u00f3nica\u2019s leadership and strategic outlook, and we look forward to working together to unlock&nbsp;value for all shareholders.\u201d<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>stc Group receives strategic investor approval from Spanish Council of Ministers to increase voting rights to 9.97% in Telef\u00f3nica, marking a significant milestone in its international expansion strategy. The Saudi telecom giant gains rights to board representation, strengthening its position as one of Telef\u00f3nica&#8217;s largest shareholders.<\/p>\n","protected":false},"author":16,"featured_media":19253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":22,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24,22],"tags":[],"class_list":["post-53405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-telecom","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>stc Group Receives Approval from the Spanish Council of Ministers as a Strategic Investor in Telef\u00f3nica - Saudishopper<\/title>\n<meta name=\"description\" content=\"stc Group receives strategic investor approval from Spanish Council of Ministers to increase voting rights to 9.97% in Telef\u00f3nica, marking a significant milestone in its international expansion strategy. The Saudi telecom giant gains rights to board representation, strengthening its position as one of Telef\u00f3nica&#039;s largest shareholders.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/saudishopper.com.sa\/en\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"stc Group Receives Approval from the Spanish Council of Ministers as a Strategic Investor in Telef\u00f3nica - Saudishopper\" \/>\n<meta property=\"og:description\" content=\"%\" \/>\n<meta property=\"og:url\" content=\"https:\/\/saudishopper.com.sa\/en\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\/\" \/>\n<meta property=\"og:site_name\" content=\"Saudishopper\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SaudiShopper\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/zamil\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-29T13:47:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-29T20:08:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2021\/01\/stc-logo-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"721\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Zamil Safwan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@zsafwan\" \/>\n<meta name=\"twitter:site\" content=\"@ssict\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zamil Safwan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\\\/\"},\"author\":{\"name\":\"Zamil Safwan\",\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/#\\\/schema\\\/person\\\/8351552105da6d5a684fb7e010f12047\"},\"headline\":\"stc Group Receives Approval from the Spanish Council of Ministers as a Strategic Investor in Telef\u00f3nica\",\"datePublished\":\"2024-11-29T13:47:09+00:00\",\"dateModified\":\"2024-11-29T20:08:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\\\/\"},\"wordCount\":238,\"publisher\":{\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/stc-group-receives-approval-from-the-spanish-council-of-ministers-as-a-strategic-investor-in-telefonica\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/saudishopper.com.sa\\\/en\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/stc-logo-2.png\",\"articleSection\":[\"Economy &amp; 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