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Spain takes stake in Telefonica after Saudi deal concerns
Spain takes stake in Telefonica after Saudi deal concerns
Economy
by  AFP

Spain's government has acquired a three-percent stake in telecoms giant Telefonica following concerns over a Saudi firm taking a piece of a company that Madrid considers strategically important. Spain's government said the move to acquire a stake in Telefonica was in line with its European neighbours, which also own small minority stakes in their leading telecoms operators.