Criteria Caixa reaches 5% in Telefónica to provide it with "shareholding stability"

José M. Rodríguez Silva

Updated Monday, April 8, 2024-18:18

Criteria Caixa, the investment arm of the savings bank's foundation, has reached 5% of Telefónica's capital, which means doubling the position it had declared in the group's shareholding.

The

holding company

has been immersed for more than two years in a policy of rotating the historic stake in the operator that the banking foundation had through CaixaBank, which has been selling shares at the same time that Criteria bought them.

"For CriteriaCaixa, the first investment holding company in Spain, its participation in Telefónica is strategic and long-term. In this sense, its main objective is to provide the telecommunications operator, which is an essential company for both the country and the sector at an international level, of the greatest shareholder stability," says the company.