(Finance) – CriteriaCaixaa holding company that manages the corporate assets of the “la Caixa” Foundation, today informed the Spanish National Securities Market Commission (CNMV) that it has reached a share of 5.007% in the share capital of Telefónica, the main Spanish telecommunications company. Until today, CriteriaCaixa had declared it held a direct stake of 2.69%.
The operation responds to CriteriaCaixa’s investment policy, characterized by efficient and prudent portfolio management, focusing on companies with an attractive dividend policy, such as Telefonica, to finance the social action of the “la Caixa” Foundation, we read in a note. In 2023, CriteriaCaixa received dividends from Telefonica for a total of 42 million euros.
For CriteriaCaixa, the first investment holding in Spain, the stake in Telefonica is “strategic and long-term“. In this sense, its main objective is to “ensure maximum share stability for the telecommunications operator, an essential company for both the country and the industry at an international level”.
CriteriaCaixa is the main shareholder of bank Caixabank.