THE financial entity Criteria Caixa has purchased 50,000 shares in Telefonica for €220,000 which increased its shareholding in the telecommunications company to 1.23 per cent directly in its name.
Purchasing the shares at €4.40 each, the organisation reported the acquisition to the National Securities Market Commission (CNMV), not because of the total number of shares it holds directly but because Isidro Fainé is Chairman of Criteria Caixa and also Vice Chairman of Telefonica, which means that any movement in shares should be made public.
In addition to the direct 1.23 per cent held in Telefonica, Criteria Caixa owns 40 per cent of Caixabank, the financial institution also chaired by Fainé and which in turn controls 5.019 per cent of Telefonica.
Caixabank is Telefonica’s third largest shareholder after BBVA and the New York investment fund BlackRock.
Shares in Telefonica, like so many others, have been depressed in the current market but the company is still valued at in excess of €20 billion.