Spain: Saudi Telecom check

Saudi Telecom, the largest telecommunication company Saudi Arabia, showed interest to Spanish Telefonica. The Saudi company wants to buy 10% Spanish for 2,25 billion dollars. As a result it becomes the largest shareholder to Telefonica needing investments for developments. However Government Kingdoms of Spain decided to check the outlined transaction carefully. The matter is that the Saudi company belongs to sovereign fund under management the prince Muhammad ibn Salman al Saud. The Spanish authorities are afraid of "undesirable influence" from a Middle Eastern monarchy...