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2 clusters · 10 sources · 12 days · First seen · Last updated

Telefónica sale of Madrid headquarters

Overview

Telefónica has completed the sale of its historic Madrid headquarters on Gran Vía to businessman Tomás Olivo. The transaction was finalized for approximately €200 million, a figure notably lower than the company’s initial target of €300 million.

The divestment is part of a broader strategy by Telefónica President Marc Murtra to reduce debt and increase liquidity by selling non-strategic assets. Olivo, who manages real estate through General de Galerías Comerciales, acquired the landmark building—the city’s first modern skyscraper—following a competitive bidding process. Due to high-level heritage protection by the Madrid City Council, the architectural and decorative elements of the 1929 structure must be preserved.

Entities

Tomás Olivo · Madrid · Telefónica · Silleda · General de Galerías Comerciales

Timeline

  1. 5 days ago

    [BUSINESS] 5 sources
    Tomás Olivo acquires Telefónica building in Madrid

    Spanish real estate magnate Tomás Olivo has purchased the iconic Telefónica building in Madrid for approximately 200 million euros.

  2. 17 days ago

    [BUSINESS] 5 sources
    Telefónica sells Madrid headquarters to Tomás Olivo

    Telefónica has sold its historic Madrid headquarters to businessman Tomás Olivo for under €200 million as part of a strategy to reduce debt and fund new investments.

Sources

cantabriaeconomica.com · cronicadecantabria.com · elcorreoweb.es · expansion.com · lacronicadebadajoz.elperiodicoextremadura.com · laopinioncoruna.es · ocio.diariodemallorca.es · ocio.farodevigo.es · todoalicante.es · web.eldia.es