CaixaBank reduces its historic stake in Telefónica to 2.5%. The bank has delivered 1% of the shares to partially liquidate the instrument, which covered 1.957% of its participation.
The company has informed investors that the operation will not have a material impact on the profit and loss account or the CET1 ratio. The operation is practically identical to the one undertaken by the entity in September 2022. It reduces the strength of the so-called "Spanish core" in Tele fónica, formed by the participations of BBVA and the Catalan bank.