BBVA has a nice stake in Telefónica | |
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04-04-2008
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Spain's biggest telco Telefónica has informed the US regulator Securities & Exchange Commision that Spanish bank BBVA controls 6.26% of its capital. According to the bank's sources the strategic participation it wants to maintain in the telco is between 5% and 5.5% and that the rest of BBVA's shares belong to money stock and client coverage. BBVA's presence in Telefónica has fluctuated over the last few months, with the last operations coming last August and September 2007. Then the bank sold out 1.53% in the telco for €1.350 million with its stake in Telefónica falling from 7.18% to 5.47%. source: Rapid TV News
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