Spain's Economy Minister: STC contacted govt on Tuesday to inform of Telefonica's stake

Saudi Arabian group STC contacted the Spanish government on Tuesday to let them know they bought a 9.9% stake in Telefonica but that they did not want to take control of the telecom company, Spain's acting Economy Minister Nadia Calvino said on Wednesday.

"We will apply all the means at our disposal in the interests of defending our strategic interests," she told reporters in Brussels, adding that Spain had strengthened the mechanism to protect its strategic interests.