TEF - Telefonica Stock Is Falling Wednesday - Here's Why? | Benzinga
Telefonica SA (NASDAQ: TEF) stock is trading lower after it disclosed that Saudi Telecom Co Group, the leading communications operator in the Kingdom of Saudi Arabia and the Middle East, has acquired a 9.9% stake in Telefónica.
The acquisition of shares representing 4.9% of the share capital of Telefónica and through financial instruments provides an economic exposure over the other 5% of the ...