Shares in the multinational telecommunications giant Telefónica went up by more than 4% on the stock market on Wednesday after the government said it would buy a stake of up to 10% in the company.
The move has been approved to counterbalance a similar-sized acquisition by Saudi Arabia’s STC group.
Deputy prime minister Nadia Calviño said it mirrors actions taken by other European governments such as France and Germany.
Full report in Friday’s Costa Blanca News
