Tag: $Telefonica

Spain is analysing Saudi Arabian group STC’s purchase of a 9.9% stake in Telefonica (TEF.MC) to ensure its strategic interests are defended, acting economy minister Nadia Calvino said on Wednesday, signalling a potential hurdle.

MADRID, July 27 (Reuters) – Telefonica (TEF.MC) is to shift its focus to cash generation after years of restructuring its business, the Spanish telecoms group’s CEO said on Thursday, sending its shares higher.

Spanish telecoms firm Telefonica disappointed the market on Thursday with a 58% drop in first-quarter net profit from the same period a year ago as the company was unable to raise prices in line with costs.