Telefónica closes the sale of its Gran Vía headquarters to businessman Tomás Olivo
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Telefónica has sold its former corporate headquarters on Gran Vía in Madrid to Spanish businessman Tomás Olivo. The sale price could be around 200 million euros, with a flexible pricing scheme that may vary depending on the building's future use. The 90-meter-high building, completed in 1930, is one of the most iconic on Gran Vía and has previously undergone significant renovations in 1987 and 1992.
The building currently houses Telefónica's flagship Movistar store, which may close following the sale. Tomás Olivo, also a shareholder of Unicaja, owns General de Galerías Comerciales, which manages several shopping centers in Spain.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
