Saudi Telecom Company (stc) has acquired an interest of 9.9% in Telefonica S.A. (Telefonica)

Steve Halor

Sep 8, 20231 min read

In a recent announcement, Saudi Telecom Company (STC) revealed that it has successfully concluded the acquisition of a 9.9% stake in Telefonica. The transaction, which took place on September 5, 2023, involved a substantial total consideration of approximately EUR 2.1 billion (equivalent to SAR 8.5 billion).

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