The Morgan Stanley Investment Bank has communicated to the National Securities Market Commission (CNMV) a 12.178% stake in the capital of Telefónica, which includes the 9.9% stake that the American entity has acquired during the last few months, on behalf of the Saudi group STC, as well as 2,278% that it manages directly.
In the notification that the CNMV received late on Monday night – the deadline for the bank to communicate its participation – it is reported that the part acquired for the Saudi telecom company is made up of a ‘put/call’ option, which It has a conversion period of more than two years, specifically between March 5, 2026 and September 5, 2028.
The stake that Morgan Stanley has built on behalf of the Arab telecommunications giant, which corresponds to 9.9% of the capital of the Spanish operator, corresponds to 569,295,356 voting rights, as stated in the bank’s notification to the supervisor.
