Spain Will Protect ‘Strategic Autonomy’ in Telefonica Deal
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Spain will ensure it protects the country’s “strategic autonomy” after Saudi Telecom Co. said it plans to snap up a near 10% stake in telecommunications giant Telefonica SA for about $2.25 billion, the government’s spokeswoman said.
“There are channels to preserve our strategic autonomy that the government sets in motion,” Isabel Rodriguez, who is also minister of territorial affairs, said in an interview with state-run broadcaster TVE. “Telefonica is not just an emblematic company but also a strategic one.”