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Telefónica Completes €200M Sale of Gran Vía Headquarters to Tomás Olivo

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Sig2.52Sen+1.34Env0.00Soc+0.28Gov+0.68

Telefónica has closed the sale of its historic headquarters at 28 Gran Vía in Madrid to real estate entrepreneur Tomás Olivo for 200 million euros, following an agreement reached months earlier and notarized on September 1. The company hired Rothschild as advisor and had sought about 300 million. Heritage protection and planned zoning limits affected offers. The sale is part of its broader asset and business review after Marc Murtra became president.

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