Barcelona, June 28, 2024.- CriteriaCaixa, the holding company that manages “la Caixa” Foundation’s business assets, today informed the Spanish National Securities Market Commission (CNMV) the acquisition of a 9.99% stake of Telefónica’s share capital. As a target, CriteriaCaixa intends to reach a maximum of 10.01% of Telefónica’s share capital by acquiring additional shares, when the administrative authorisations required for the acquisition of an indirect stake in certain regulated subsidiaries of Telefónica have been obtained.
CriteriaCaixa’s last investment in Telefónica was last April, when it reached 5.01% of its share capital and duly communicated it to the CNMV, although this percentage became 5.08% after the recent capital reduction carried out by the telecommunications operator.
This new stake increase is in line with CriteriaCaixa’s investment policy, characterised by efficient and prudent management of its portfolio, focused on companies with an attractive dividend policy such as Telefónica.
For CriteriaCaixa, Spain’s leading investment holding company, the stake in Telefónica is strategic and long-term. CriteriaCaixa believes that its investment will contribute to providing greater shareholder stability to the telecommunications operator, an essential corporation for both the country and the industry at international level.
Last week, CriteriaCaixa presented its 2025-2030 Strategic Plan, whose priority is to provide an uninterrupted and growing dividend to “la Caixa” Foundation, enabling it to continue developing its social action. The Plan also reaffirms CriteriaCaixa’s role as a stabilising agent for the Spanish economy, reinforcing its commitment to companies in strategic industries such as banking, energy, telecommunications and utilities, as well as promoting future industrial development through investment in new industries and projects.
The relationship between “la Caixa” and Telefónica dates back to 1987. Since then, both “la Caixa”, and subsequently CaixaBank and now CriteriaCaixa, have maintained a presence on the company’s governing bodies. Currently, this representation is held by Isidro Fainé, who is Vice-Chairman of Telefónica, and who this year surpassed 30 years of continuous service as a director of the company.
