Telefónica holds 93% of Telefónica Deutschland shares after end of acceptance period

Via Telefónica

Jan 22, 2024

Madrid, Spain – Telefónica, S.A. (“Telefónica”), through Telefónica Local Services GmbH (the “Bidder”), a wholly-owned subsidiary of Telefónica, today announced the result of the voluntary public acquisition offer in the form of a partial offer (the “Offer”) to the shareholders of Telefónica Deutschland Holding AG (“Telefónica Deutschland”).

From the day of Telefónica’s announcement of the public acquisition offer on 7 November 2023 until the end of the acceptance period on 17 January 2024, 24:00 (CET), Telefónica increased its stake in the share capital in Telefónica Deutschland from approximately 71.81% to approximately 93.10%, for a total consideration of EUR 1,483 million funded entirely with cash.

The Offer has been accepted by shareholders holding 7.86% of Telefónica Deutschland’s shares. In addition, since the Offer was announced, Telefónica has acquired (other than pursuant to the Offer) approximately 13.43% of the share capital and voting rights of Telefónica Deutschland. This includes the settlement of financial instruments that gave Telefónica the right to acquire approximately 1.32% of Telefónica Deutschland’s share capital.

Given that no regulatory approval is needed for this transaction to be completed, the Bidder expects the settlement of the Offer and the payment of the offer price to occur on 26 January 2024.

This content extract was originally sourced from an external website (Telefónica) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Sign up to receive TelecomTV's top news and videos, plus exclusive subscriber-only content direct to your inbox.