Telefónica has reached 93.10% of the capital of its German subsidiary, Telefónica Deutschland, after disbursing 1,483 million euros to acquire an additional 21.3% with the voluntary public takeover bid (takeover bid) announced last year. November.
Once the acceptance period has ended, the Spanish multinational has taken a jump in its participation from the previous 71.81% with a payment entirely in cash, as reported this Monday to the CNMV. The takeover bid was launched for the 28.19% that it did not control, with a maximum expenditure of 1,970.3 million.
The offer, at 2.35 euros per share and with a premium of 37.6%, has been accepted by shareholders holding 7.86% of the shares of the German subsidiary. Since the offer was announced, Telefónica has acquired approximately 13.43% of the share capital and voting rights outside of it.
Telefónica Deutschland is one of the main providers of integrated telecommunications services in Germany, with more than 44 million mobile accesses and 2.3 million broadband accesses. With this operation, Telefónica intends to increase the contribution of the German firm to the consolidated profit and to the cash flows attributable to the shareholders of the Spanish company.
Without the need for regulatory approval for the operation to be completed, the company says, Telefónica expects that the settlement of the offer and the payment of the price will take place on January 26.
