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Factbox-Government stakes in European companies

Published 20/12/2023, 18:37
Updated 20/12/2023, 18:40
© Reuters. FILE PHOTO: The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. REUTERS/Violeta Santos Moura/File Photo

(Reuters) - The Spanish government will acquire a stake of up to 10% in telecoms giant Telefonica (BME:TEF) to counterbalance a large holding in the company built by Saudi Arabia's STC.

Economy Minister Nadia Calvino said on Tuesday the move was "in line with other big European countries such as France and Germany that have stakes or are increasing stakes in big strategic firms".

Below is a list of some key companies in which the governments of the European Union's top four economies hold stakes across sectors including banks, telecoms, utilities, airlines and aerospace.

FRANCE

** Air France-KLM (LON:0LN7): With a 28.6% stake, France is the biggest shareholder in the Franco-Dutch airline, followed by the Dutch government at 9.3%.

** Airbus: France is the top shareholder at the world's biggest planemaker with a 10.9% stake. The German government holds 10.8% in the company and Spain owns 4.1%.

** EDF (EPA:EDF): The government nationalized the electricity provider in June 2023.

** Engie: The government is the biggest shareholder at the energy company with a 23.6% stake.

** Orange: The government is the top shareholder of the telecoms company, holding a 13.4% stake.

** Safran (EPA:SAF): With an 11.2% stake, France is also the top shareholder at Safran, which co-produces the widely used LEAP engine for medium-haul jetliners with General Electric (NYSE:GE), and is also among the world's biggest suppliers of other aeronautical equipment.

GERMANY

** Commerzbank (ETR:CBKG): Following a bailout during the financial crisis, Germany is the top shareholder in the bank with a 15.8% stake.

** Deutsche Telekom (ETR:DTEGn): Germany holds an over 30% stake in the telecoms group directly and indirectly. The government owns 13.8%, while 16.6% is held by the state-owned bank KfW.

** Uniper: The government holds a 99.1% stake after nationalizing the gas importer last year.

ITALY

** Banca Monte dei Paschi di Siena: Italy remains the top shareholder of MPS with a 39.2% stake, after it sold 25% in November as part of a process to re-privatize the bank.

** Enel (BIT:ENEI): The government holds a 23.6% stake in the energy utility.

** Eni: The government is the biggest shareholder in the energy group, holding a stake of 32.4%.

** Italgas: the state owns 26% in the country's biggest gas distributor, making it the biggest shareholder.

** Poste Italiane: The government is the top shareholder of the postal service group with a stake of 64.3%.

** Telecom Italia (BIT:TLIT): The government holds a 9.8% stake in the telecom service group, its second biggest shareholder behind France's Vivendi (EPA:VIV).

** Terna: Italy is the top shareholder in the electricity grid operator with a 29.9% stake.

SPAIN

** Caixabank: The government has a 17.3% stake in the bank through its resolution authority FROB, being the second largest shareholder.

** Enagas: State holding company SEPI owns 5% in the gas distributor, its top shareholder alongside billionaire and founder of fashion giant Inditex (BME:ITX), Amancio Ortega, who also holds 5%.

** Redeia: Spain owns 20% in the electricity grid operator through SEPI, after selling 8.5% in 2005. It remains the biggest shareholder.

** Indra: SEPI is the largest shareholder in the defence systems maker with a 27.99% stake.

© Reuters. FILE PHOTO: The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. REUTERS/Violeta Santos Moura/File Photo

** Ebro Foods: the state has a 10.36% stake in the world's largest producer of rice and second-biggest producer of pasta.

** Telefonica: The government will acquire a stake of up to 10% in Telefonica through SEPI.

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