Spanish state investor eyes Telefónica stake

Spain’s sovereign investment fund may acquire a chunk of Telefónica, a sign that the government is making good on its pledge to defend the incumbent against Saudi Telecom Company.
Belén Gualda González, president of the State Company of Industrial Participation (SEPI), said in a brief statement that he is monitoring Telefónica’s situation, and is conducting “an internal exploratory analysis regarding a possible acquisition of a shareholding in said c