Spain’s Criteria raises stake in Telefonica to 9.99%

MADRID: Spanish holding company Criteria said on Friday it raised its stake in telecom giant Telefonica to 9.99%, almost matching the stake the Spanish government recently bought in the company.

Criteria bought 4.91% of Telefonica shares, the company said on Friday, and intends to buy a further 0.2% so that its stake will surpass the 10% held by the government, making it the telecom group’s largest shareholder.