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Saudi Arabia's STC Group has acquired a 9.9 per cent stake in Telefónica, making it the second biggest holder in one of the largest telcos in the world with s
Saudi Arabia’s largest telecommunications company, STC, has acquired a 9.9% stake in Telefónica, a leading telecoms player in Spain, Germany, the UK and Brazil, aong with a number of other Latin American countries through Telefónica Hispanoamérica. The stake is valued at €2.1 billion (about US$2.26 billion).