Spain authorises Saudi Arabia's STC to raise stake in Telefonica to 9.9%, El Pais says

-0.57%

STC

7010.SA

42.20

-0.57%

MADRID, Nov 28 (Reuters) - The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group 7010.SE, to raise its stake in Telefonica TEF.MC beyond 5% and reach 9.9%, El Pais newspaper reported on Thursday.

A spokesperson for the Economy Ministry declined to comment.

(Reporting by Inti Landauro and Emma Pinedo; Editing by David Latona)

((Inti.Landauro@thomsonreuters.com;))

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