The Spanish group Criteria plans to raise its stake in Telefónica to 10%, thus matching the stake recently acquired by the state in the telecommunications company, the digital media site El Confidencial reported on Tuesday, basing its information on unidentified sources.

Criteria, which is Caixabank's largest shareholder with a stake of more than 30%, already owns around 5% of Telefónica.

A 10% stake in Telefónica is worth about 2.38 billion euros ($2.58 billion) at the current market price.

The Spanish government on Monday completed the purchase of its 10% stake to counter the acquisition of a similar stake in Telefonica by Saudi Arabia's STC.

Criteria declined to comment on the information.

(1 U.S. dollar = 0.9210 euros)

(Reporting by Inti Landauro and Jesús Aguado; edited by David Goodman; edited in Spanish by Mireia Merino)