Baker McKenzie advises SEPI on its stake in Telefónica

The Spanish State Industrial Holdings Company (SEPI), the government’s investment arm, has appointed global law firm Baker McKenzie to provide legal counsel on matters concerning its equity holdings in companies listed on foreign markets. The firm’s Madrid office, led by Rodrigo Ogea and Mireia Sabaté, will advise SEPI as a shareholder of Telefónica in the operator’s activities outside Spain, with a specific focus on its operations in the United States.

This development highlights SEPI’s strategic efforts to navigate the complexities of its international investments. Baker McKenzie, a firm with deep expertise in cross-border legal matters, will assist SEPI in ensuring that its participation in Telefónica aligns with global regulatory standards and supports the state entity’s broader goals.

This is not the first time SEPI has turned to the firm for counsel. The law firm previously conducted a legal analysis for SEPI during its initial investment in the Spanish telecommunications giant. This new mandate further consolidates their relationship, particularly as SEPI’s involvement in Telefónica evolves.

As Telefónica continues to expand its presence in key international markets, SEPI’s proactive approach in securing top-tier advisory support reflects its dedication to protecting and optimizing its stakes in Spain’s most significant corporate assets.