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Blackrock buys up shares in MásMóvil & Movistar

December 5, 2019

From David Del Valle in Madrid

Blackrock, the US investment fund, is fully breaking into the Spanish telco market with share acquisitions of over 5.2 per cent in MásMóvil, the fourth largest operator, and 5.3 per cent in Movistar.

Blackrock has made several moves this week to gain strength in MásMóvil with a massive purchase of shares – the latest amounting to 900,000 totaling 5.21 per cent of the capital.

Blackrock is becomes one of the main shareholders of MásMóvil behind Onchena with 13.3 per cent, Providence with 9.2 per cent, Fidelity with 8.4 per cent and Global Portfolio Investment with 8.1 per cent.

In Movistar’s case, Blackrock now has a 5.33 per cent stake, becoming one of the main shareholders along with BBVA and La Caixa.

Categories: Articles, Business, M&A, Telco