STC, the Saudi telecommunications company that wants to control 9.99% of Telefónica, once again emphasized the importance for the company of becoming part of the Spanish operator. During the results presentation, analysts asked the Asian company’s top executives about the possible acquisition, which is stalled as Moncloa must agree to the move, which was announced just over a month ago.

Thus, for STC the operation “has the meaning” as Telefonica “retains strong growth potential” and has a unique asset position. first class infrastructure and advanced technology platforms” through which it develops “cutting-edge capabilities” in various fields.

It is Telefonica’s infrastructure in Spain that is one of the government’s main problems. According to the publication, the entry of Saudi Arabia into the board of directors will provide the opportunity to receive confidential information from millions of people, companies and the Spanish operator itself.

In turn, the Saudi operator emphasized that the possible entry of the Saudi group into the Telefonica stake would mean “cooperation between the two companies to capitalize on the opportunities available in the future.”

“Telefónica is one of the largest telecommunications companies in the world, with a presence in important markets such as Spain, Germany, the UK and Brazil,” he said.

The government plans to enter Telefonica

The thoughts of the STC, which has once again confirmed its commitment, coincide with the possibility that the government could penetrate Telefónica’s shareholding through SEPI, as it moves forward. Confidential.

Government spokeswoman Isabel Rodriguez confirmed Telefonica’s strategic nature for Spain and avoided commenting on the possible entry of the State Industrial Participation Society (SEPI) – dependent on the Ministry of Finance – into the company’s share capital along with a group of Spanish investors.

“It is a strategic company for Spain because of its role in the telecommunications sector and also in the defense sector. We do not intend to comment on every information published about these operations due to the caution required by the strategic importance of the same,” Rodriguez stressed at a press conference after the meeting of the Council of Ministers this Monday.