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(Bloomberg) A Saudi Arabian state-backed telecom firm is set to splash out $2.5 billion to become the biggest shareholder in Spain’s Telefonica SA, marking the latest instance of Middle Eastern wealth flowing into key European communication assets. Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderChina Slowdown Means It May Never Overtake US Economy, Forecast ShowsSoaring US Dollar Raises Alarm as China, Japan Escalate FX PushbackHuawei Teardown Shows Chip
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