By Linda Hall •
Published: 07 Dec 2023 • 10:00
TELEFONICA DEUTSCHLAND: Headquartered in Munich
Photo: Flickr/Rodolfo Bontempi
TELEFONICA is set on acquiring all the shares in its German subsidiary, which is currently worth approximately €5 billion.
The Spanish multinational has launched a public tender to buy up the remainder of the holding that it does not already own in Telefonica Deutschland, paying €2.35 per share. The acceptance period began on December 5 and continues until January 17 next year.
The offer is 37.6 per cent above the share price at close of business the day before the offer was announced in November but below this year’s high of €3.15 in early 2023.
Information in the brochure published on December 5, when the German authorities officially approved the deal, revealed that Telefonica now possesses an additional 9.4 per cent stake, reducing to 18 per cent the outstanding number of shares.
The Spanish multinational spent €57 million on buying up 30.7 million Telefonica Deutschland shares over two days following the announcement last August that the German subsidiary had lost to Vodafone its contract to provide 5G coverage for telecoms company 1&1.
Telefonica’s Chief Financial officer Laura Abasola also refuted rumours that the company planned to de-list Telefonica Deutschland.
Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share?
Then get in touch at email@example.com.
Download our media pack in either English or Spanish.