Telephone stood out this Monday with advances of 0.46% -which in the middle of the session reached 3.5%- against the current of an Ibex 35 in clear decline. The operator got consolidate above the key level of 4 euros per share supported by a new round of purchases of Criteria Caixa and the possibility that two of its rivals combine their businesses in Italy.
In intraday highs, Telefónica reached 4.14 euros per share, which remained at 4.022 euros at the close. Quite an achievement if one takes into account that the Ibex 35 lost 3.2% this Monday in its worst session in the last two months, with losing 277 points in one go. Thus, this was the eighth consecutive session in which the operator moved above the key reference of 4 euros per share.
One of the engines of this upturn against the current was in the possibility of Iliad and Vodafone merging their businesses in Italy. An operation that both companies would currently be studying, as published this Sunday Reuters.
Although the transaction would be in its earliest stages, corporate movements in the sector have always been good for Telefónica’s listing.
If the talks where it is the most fragmented and competitive European market of Europe for the sector, a firm with a penetration in the mobile market of around 36% would be created. In addition, their combined income would be around 6,000 million euros and there would be a certain de-escalation in the fierce price war that is being experienced in the country.
As if that were not enough incentive to boost purchases at Telefónica, this Monday Criteria Caixa has notified a new acquisition of operator shares. And not just any, but the most bulky so far this year.
On this occasion, the investment arm of the financial group La Caixa has reported the purchase of 30,000 shares of Telefónica at a unit price of 3.99 euros. An operation held last Friday, January 21, which, therefore, mobilized a total of 119,700 euros.
After a particularly intense 2021 in terms of purchases, Criteria continues to increase positions in the heavyweight of the Ibex 35. Thus, so far this year, it has already taken nearly 200,000 shares of Telefónica, for which it has faced a disbursement of more than 750,000 euros.
Furthermore, this time the holding companyhas anticipated more purchases in the future. And it is that the acquisition has been accompanied by the selling options put that give the right to more acquisitions at a softer price than the market price at maturity. A usual strategy for Criteria that, however, had not been produced in several of its latest transactions.
More specifically, 200,000 of these options have been disposed of for a unit price of 0.03 euros. An amount that, as usual, points to the bullish strategy Criteria has been following the Spanish operator for a long time.
Likewise, this Friday it was also known that a total of 2,418 Telefónica Spain workers signed up to the latest voluntary termination plan launched by the operator. A figure that This represents 53.3% of the 4,532 workers who met the seniority requirements and an acceptance of more than 38% of the workforce set for critical areas.
In the opinion of Eduardo Bolinches, an analyst at Invertia, as long as the value respects 4.06 euros per share, its continuity above the level of 4 per share seems to be assured. In fact, it is precisely in this brand where it finds its second most immediate support.
At the top, after an accumulated comeback of 14% in the last year for Telefónica shares, its closest resistance places it at 4,162 euros by title. A level that, according to Bolinches, coincides with its maximum of last year.
this same Monday, Vodafone it shoots up about 5% on the London Stock Exchange against the current of a parquet in which declines also dominate. In the meantime, Telecom Italy (Gruppo TIM) is suffering from the threat that the eventual merger with Iliad would pose to its business with declines of more than 1% on the Milan Stock Exchange.