hit tracker
Sunday, July 14, 2024
HomeLatest NewsTelefónica reaches 96.85% of its German subsidiary after completing its delisting takeover...

Telefónica reaches 96.85% of its German subsidiary after completing its delisting takeover bid

Date: July 14, 2024 Time: 14:22:02

The Spanish telecommunications company Telefónica has reached 96.85% of the shares of its German subsidiary, Telefónica Deutschland, after ending the period of public acquisition offer (OPA) of exclusion that the operator launched on March 7 . The teleco’s purpose with this operation was to acquire what remained of its German subsidiary, 5.65% of the capital, for a maximum import of 395 million euros. Finally, it has acquired 2.50% of the capital for an import of 175 million euros.

As reported today Tuesday by the firm chaired by José María Álvarez-Pallete, the period of acceptance of the offer concluded on April 18 at midnight, and at its end, Telefónica has achieved ownership of approximately 96.85% of the shares of Telefónica Germany.

The total number of securities that have accepted the exclusion offer and the number of Telefónica Deutschland shares acquired since the announcement of the offer and until the closing of the last session of the acceptance period amount together to 74,338,954 shares, representing approximately 2.50% of the share capital and voting rights of Telefónica Deutschland, for a total price of approximately 175 million euros, paid entirely in cash.

The strategy for the Telefónica subsidiary in Germany

The public offer for exclusion from trading was made on all registered shares without par value of Telefónica Deutschland that were not directly owned by Telefónica. The operator anticipates that the settlement of the offer and the payment of the price in cash will take place on April 29.

Trading in Telefónica Deutschland securities on the regulated market of the Frankfurt Stock Exchange ended on April 18, 2024 after the delisting became effective.

Last November, Telefónica launched a voluntary takeover bid for its German subsidiary with which it managed to increase its participation in Telefónica Deutschland from 71.81% to a percentage greater than 93%, for a global import of 1,483 million euros. The consideration offered then, 2.35 euros in cash for each share, is the same as that offered in the exclusion takeover bid launched in March.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
RELATED ARTICLES

Most Popular

Recent Comments