Telefónica has officially exited its investment in BBVA, liquidating its remaining 0.7% share in the bank for 608 million euros. This divestment marks the end of a significant 25-year partnership that originally began as a strategic alliance aimed at dominating the Spanish-speaking digital and financial ecosystem. The total gain from this sale is 335 million euros for Telefónica, reflecting a successful financial maneuver as the company repositions its asset allocations.

The historical connection between the two companies dates back to the early 2000s when Telefónica and BBVA formed a tie to leverage synergies in technology and finance. Over the years, this collaboration facilitated various joint ventures, promising to drive innovation in both sectors. However, the recent decision to completely divest indicates a strategic shift for Telefónica, aligning its focus and investments with new business priorities and market dynamics.

As highlighted in Telefónica's latest annual financial report, the divestment took place during the 2025 financial year, transforming their 417 million euro stake from the previous year into a liquid asset. This move not only signifies a complete exit from BBVA but also sheds light on Telefónica’s evolving corporate strategy as it looks to adapt in an ever-changing financial landscape.