Podcast Transcript
Telefonica has been celebrating its Investor Day for more than ten years. The strategy meeting has not been held since 2012, when César Alierta was still at the helm of the operator.
Under Álvarez-Pallete, Telefónica has done this again, with shareholders at the heart of its strategy until 2026. The plan is ambitious and aims to maintain a dividend of at least 0.30 euros per share until 2026. To this end, cash flow is expected to grow by more than 10% annually.
Alvarez-Pallet showed investors he had done his homework, including buying stakes in German subsidiaries he did not control.
But as new investors come in, its growth, profitability and sustainability goals will become the GPS of its new strategic plan, but there will be tensions among shareholders.
SEPIExplore
One of them has already been confirmed, namely Saudi Telecom. Another SEPI announced that it was exploring the possibility of entering the operator under the pretext of checking and balancing the participation of Saudi Telecom Company.
They are not the two best partners for Telefonica at the moment. Witches are rarely transparent, preferring to disguise themselves and enter through the back door. If they were caught, they wouldn’t hesitate to ask, “Trick or treat?” Or fear or death?
The recent experience with Indra is the clearest example of what awaits the operator if the Sánchez government ends up entering Telefónica through SEPI or other means it considers. Trick or treat?
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