Blackrock has taken a 3.592% stake in Euskaltel barely a week after the Spanish cable operator held an IPO.

According to Europa Press, quoting the National Securities Marketing Commission (CNMV), Kutxabank remains the leading shareholder in the company with 30.1% of its capital, followed by Corporación Financiera Alba with 8.021%.

It adds that holders of 3% or more have until July 7 to communicate their participation in the group.

Blackrock’s stake in Euskatel has a market value of €46.34 million, while Kutxabank’s shares are valued at €388.3 million. Kutxabank held a 49.9% in Euskaltel prior to selling 22.5 million shares in the IPO.

Meanwhile, Corporación Financiera Alba’s shares are valued at €103.47 million.

Other shareholders in Euskaltel include GeorgeSoros and the investment bank Lazard.