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Saudi stc acquires 9.9% stake in Telefonica for $2.25bn

Like many of its European counterparts, Telefonica has been grappling with fierce competition and the necessity for substantial investment in 5G infrastructure.

By João Marques Lima

Founder and Editor, The Tech Capital

4 Mins

September 05, 2023 | 10:22 PM BST

Saudi stc acquires 9.9% stake in Telefonica for $2.25bn

Olayan Alwetaid, stc Group’s CEO. Source: stc

The Tech Capital

Saudi stc Group has acquired a minority stake in Telefonica, one of the world's largest telecommunications companies based in Spain.

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João Marques Lima

Founder and Editor, The Tech Capital

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