Sanchez surprises investors with Spanish business interventions

Quick Summary:

After six years in office, Spanish Prime Minister Pedro Sanchez is blindsiding executives and investors with policy surprises in the euro area’s most successful major economy.

One reason for Sanchez’s move against Telefonica’s Jose Maria Alvarez-Pallete was his frustration with the company for using its publicity budget to advertise in right-wing news outlets, according to people familiar with the matter.

He resigned the next day and was replaced by Marc Murtra, until now chairman of defense company and IT company Indra Sistemas SA, in which the government holds a 28 percent stake.

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Article Details

Author / Journalist: Rodrigo Orihuela & Clara Hernanz Lizarraga | Bloomberg

Category: BusinessStartups

Markets: PhilippinesSpainSwitzerland

Topics: Telefonica Chairman Company Political Spanish Socialist Sanchez Percent Spain’s Executive Government

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-20 @ 11:24:37 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 706 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25283086

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 78 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 13 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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