Telefonica CFO: No plan to delist Telefonica Deutschland (updated)

Telefonica Deutschland Holding AG

05/12/2023 18:27

(Adds context, CFO quote)
       MADRID, Dec 5 (Reuters) - Telefonica  TEF.MC  has no
plan to delist Telefonica Deutschland  O2Dn.DE  following the
ongoing tender offer, Chief Financial Officer Laura Abasolo said
on Tuesday. 
    This month, Spain's Telefonica announced a public tender
offer to buy the 28.19% of Telefonica Deutschland it does not
own for 2.35 euros ($2.51) per share. The acceptance period
started on Tuesday and expires on Jan 17 2024.
    "We currently have no plans to delist Telefonica
Deutschland, Telefonica does not envisage raising the price of
this offer. This price is best and final," Abasolo told Reuters.
    The acquisition comes as the company launched a three-year
strategic plan to boost profitability by reducing capital
expenditure, raising revenue and cutting costs. Telefonica had
also decided to focus on Spain, Brazil, Britain and Germany.
    "The offer reinforces our strategy to focus on our core
geographies," Abasolo added.

 (Reporting by Inti Landauro; writing by Emma Pinedo; Editing by
Aislinn Laing and Josie Kao)
 ((emma.pinedo@thomsonreuters.com; +918 35 68 34;))