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General

Spanish govt shields Telefonica from hostile takeover bids

Thursday 19 March 2020 | 09:58 CET | News
The Spanish government has taken steps to protect listed companies including Telefonica from hostile takeover bids as share prices plummet due to the impact of the coronavirus crisis. According to the provisions of the government's emergency Royal Decree-Law 8/2020, investors residing outside the EU and the European Free Trade Association will be temporarily barred from holding "a stake equal to or greater than 10 percent" in listed companies and will not be permitted to take control of companies related to "energy, transport, water, health, communications, media, data processing or storage,

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Categories: General
Companies: Telefonica
Countries: Spain
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