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Caixabank reduces its historic stake in Telefónica to below 5%


Key movement in the shareholding of Telefónica. For the first time in over a decade, Caixabank reduces its investment in Telefónica below 5%. Specifically, the financial institution stands at 4.87%, according to the records of the National Securities Market Commission (CNMV).

Caixabank It has lowered its exposure to the operator from 5.19% to the aforementioned 4.8%, as of today, according to the regulator's records. It is significant because kept its position stable since July 2007, regardless of the capital increases or movements that the operator carried out.

Now, this percentage is reduced as a result of Telefónica's latest remuneration, where the company allowed its shareholders to choose the dividend in cash or in shares and which led to a subsequent capital increase of 2.63%. Caixabank would have opted for the cash dividend and, as a consequence of this movement, its participation has been slightly diluted.


Not the same with BBVA which maintains stable its investment in the company chaired by José María Álvarez-Pallete for even longer. In its case, the investment in Telefónica has been at 6.96% since July 2006. The bank remains as the first shareholder

Following, after the Caixabank step back, BlackRock. The American giant maintains an investment of 4.98%, which has remained unchanged since last March.

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