Source: European Parliament
Question for written answer E-000233/2025
to the Commission
Rule 144
Dolors Montserrat (PPE)
The Spanish Government has again moved to take control of an investee company. Manuel de la Rocha, head of the Government Office for Economic Affairs, informed José María Álvarez-Pallete at La Moncloa on Saturday, 18 January 2025, that the latter would no longer serve as Chairman of Telefónica.
This is a move which, it is claimed, is driven by the ‘new shareholders’ – first and foremost the State Industrial Holding Company (SEPI), which reports to the Ministry of Finance, which in May 2024 purchased 10 % of the shares for EUR 2 285 million from the General State Budget, originally earmarked for the autonomous communities and municipalities.
The Government makes no secret of its intention to dominate Telefónica’s management, just as in the case of Indra, Hispasat, Correos, RTVE, the National Statistical Institute, and the CIS.
- 1.Is the Commission concerned about government moves to exercise disproportionate control over companies through instruments such as SEPI, which undermine the principles of the European single market, fair competition and competitive neutrality?
- 2.Does the Commission believe that State interference with investee companies can discourage new competitors from entering the market, stifling the diversity of businesses promoted by the single market?
Submitted: 21.1.2025