Brief: Telefonica Agrees To Submit Delisting Tender Offer For Acquisition Of Shares Of Telefonica Deutschland

Telefonica Deutschland Holding AG

07/03/2024 07:21

March 7 (Reuters) - Telefonica SA  TEF.MC :
    * AGREES TO SUBMIT A DELISTING TENDER OFFER FOR THE
ACQUISITION OF
THE SHARES OF TELEFONICA DEUTSCHLAND HOLDING AG
    * DELISTING OFFER COULD BE ACCEPTED IN RESPECT OF UP TO
168,076,494 TELEFÓNICA DEUTSCHLAND SHARES (CORRESPONDING TO
ABOUT 5.65% OF SHARE CAPITAL AND VOTING RIGHTS IN TELEFONICA
DEUTSCHLAND)
    * ACCEPTANCE PERIOD FOR DELISTING OFFER WILL COMMENCE UPON
PUBLICATION OF OFFER DOCUMENT WHICH IS EXPECTED IN LATE
MARCH/EARLY APRIL 2024
    * IT BELIEVES THE DELISTING OFFER PROVIDES ANOTHER
OPPORTUNITY TO
ACCESS LIQUIDITY AT AN ATTRACTIVE PRICE FOR ALL REMAINING
TELEFONICA DEUTSCHLAND SHAREHOLDERS
    * THE SETTLEMENT OF THE DELISTING OFFER (EXPECTED IN LATE
APRIL/EARLY MAY 2024) WILL OCCUR WITHOUT UNDUE DELAY FOLLOWING
THE EXPIRY OF THE ACCEPTANCE PERIOD
    * DELISTING OFFER WILL BE STRUCTURED AS A PUBLIC TENDER
OFFER AND
WILL NOT BE SUBJECT TO ANY CLOSING CONDITIONS
    * BIDDER AND TELEFONICA INFORM TELEFONICA DEUTSCHLAND THAT
CURRENTLY THEY DO NOT INTEND TO SUPPORT DIVIDEND PAYMENTS BEYOND
THE ALREADY CONFIRMED EUR 0.18 DIVIDEND PER SHARE FOR  FINANCIAL
YEAR 2023
    * DISTRIBUTION OF TELEFÓNICA DEUTSCHLAND DIVIDEND WILL TAKE
PLACE
SEVERAL WEEKS AFTER SETTLEMENT OF DELISTING OFFER, NO EARLIER
THAN MID-JUNE 2024
    * BIDDER AND TELEFONICA HAVE NO INTENTIONS TO IMPLEMENT A
DOMINATION AGREEMENT AND/OR PROFIT AND LOSS TRANSFER AGREEMENT,
NOR TO INITIATE A SQUEEZE-OUT

Source text for Eikon:  ID:nCNM2mKf6H   urn:newsml:reuters.com:*:nTUC4FCLDH
Further company coverage:  TEF.MC 

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