Spanish lender BBVA reduces stake in Telefonica below 2% from 5%, regulator data shows

Banco Bilbao Vizcaya Argentaria SA

01/07/2026 10:43

MADRID, July 1 (Reuters) - Spanish lender BBVA BBVA.MC has reduced its stake in telecoms giant Telefonica TEF.MC to 1.965% from a previous holding of 5%, official data from the Spanish stock market supervisor showed on Wednesday.
BBVA, which has had its Telefonica shares listed as available for sale - and therefore as a financial asset - since 1997, did not disclose the aumount of the transaction.
Also, BBVA did not announce when the stake was sold. 
The latest data from the supervisor showing a 5.007% stake in Telefonica was published in June last year.  
According to Tuesday closing market prices, a 1.965% stake in Telefonica was worth around €391 million ($446 million).
BBVA, which gave up its seat on Telefonica's board last February, will continue working together on the many projects both entities have in common, a spokesperson for the Spanish lender said.

($1 = 0.8777 euros)


 (Reporting by Jesús Aguado; Editing by David Latona)
 ((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))