• Norway increases stake in Telefónica.
  • KPN completes offload of Telefónica stake.

Telefónica financial roundup, July 2019

Telefónica financial roundup, July 2019

Source: Didier Weemaels / Unsplash

  • The Government Pension Fund of Norway is reported to have increased its stake in Telefónica Group to 3.024%. The investment is managed by Norges Bank and is up from 1.94% earlier in the year.
  • KPN completed the sale of its remaining holding in Telefónica Deutschland in June 2019, offloading the final 3.5% stake it held in the German operating business. KPN had received a 20% stake in Telefónica Deutschland as part of the merger between the Telefónica business with E-Plus (Telefónicawatch, #81, passim), but has in recent years progressively worked to reduce its interest to provide funds to support its own operational needs.