In its approach to Telefónica, STC has relied on former executives of the Spanish operator, who are now part of the executive leadership of the Saudi Arabian telecom. Among them stands out José del Valle, head of STC Special Projects and member of its executive committee, according to the operator on its corporate website.
Del Valle, who joined STC in September 2020 as Head of Strategy, spent more than 18 years at Telefónica, with different positions in Latin America, coinciding with José María Álvarez-Pallete, when the current president of the operator was in charge of the subsidiaries of the teleco in the region in the former Telefónica Internacional, and Europe.
Among other positions, Del Valle was director of the Multimedia business of Telefónica Internacional; CEO of the subsidiary Media Latam in Peru; Director of Marketing and Content, and Sales in Europe, as well as Global Director of Strategic Alliances.
In addition, according to sources in the sector, the operation has been planned with the support of the contacts that STC has in Spain and who know both Telefónica and the entire regulation of the telecommunications sector well. As legal advisors to the transaction, Linklaters has advised STC, while Allen & Overy has advised Morgan Stanley. In this sense, Linklaters’ managing partner in Spain is José Giménez, a state lawyer and who in the past was general secretary of the former Telecommunications Market Commission (CMT).
In turn, Allen & Overy has Antonio Vázquez-Guillén, State attorney, and Ignacio Ruiz-Cámara, as managing partners. The firm notes that Ruiz-Cámara has extensive experience in restructuring, leveraged finance, asset and project finance, particularly in renewable energy and infrastructure, while Vázquez-Guillén has experience in administrative and regulatory law, including energy, infrastructure, public contracts and administrative procedures. Law firms are now going to have a lot of work in tasks such as obtaining the different authorizations from the Government and other regulatory authorities.
Until now, STC hardly had a presence, not only in Spain, but also in Europe as a whole. The Arab group, which seeks to diversify businesses, recently closed the purchase of United Group’s telecommunications tower assets in Bulgaria, Croatia and Slovenia, through its subsidiary Tawal.
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2023-09-07 18:03:14
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