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Telefónica, the largest state investment after Aena, Airbus and CaixaBank

The acquisition by Sepi of up to 10% in Telefónica would have a stock market value of slightly more than 2,000 million.

The acquisition by Sepi of up to 10% of Telefónica’s capital will substantially increase the list of listed companies with state participation, either through the entity chaired by Belén Gualda or other public entities.

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