A Spanish Vittorio Veneto and Mediterranean strategy

How would a Spanish Vittorio Veneto-type battleship affect Second World War naval strategy?

It could redirect British capital ships and procurement, but Spain's weak escorts and harbour defence would leave the battleship vulnerable to submarine ambush.

Such a ship would be strategically valuable to Germany if Spain possessed it before the war, encouraging stronger German efforts to bring Spain into the conflict. Nelson, Rodney, and Renown would probably anchor Force H, rebuilt Queen Elizabeth-class ships would reinforce the eastern Mediterranean, and the King George V class would remain important in the North Atlantic. British procurement might also accelerate because Spanish and Italian capital ships would create a geographically troublesome combination even without perfect political cooperation. Spain's post-civil-war weakness, exposed harbours, and thin escort force would make submarines, especially T-class boats firing large ambush salvos, a more practical British answer than a symmetrical battleship contest. Portugal's likely alignment with the Allies would add land pressure. British interests in Spain's major yards, intelligence access, and Franco's effort to preserve older relationships also complicate a simple Axis-versus-Allies picture. The scenario turns on force allocation, industrial policy, diplomacy, and covert access as much as the fighting qualities of one hypothetical battleship.