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Jose Maria Alvarez-Pallete spent much of his nearly eight years as chairman of Telefonica SA trying to move beyond the carrier’s reputation for being cozy with Spanish political interests. Now the government may become his biggest shareholder.
Spain announced a plan on Tuesday to buy as much as 10% of Telefonica — a stake worth some €2 billion ($2.2 billion) — in a move that the government says is about providing shareholder stability.
Harry Miller is a writer and editor based in Toronto who has Ten years of experience in the journalism industry. Before coming to Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and a breaking news reporter with the Toronto Star. Miller currently holds two bachelor’s degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.
