REG - Telefonica SA - Information about offer GVT <Origin Href="QuoteRef">TEF.MC</Origin>

Telefonica SAAnnouncement

29/10/2014 10:37

RNS Number : 3820O
Telefonica SA
06 August 2014
TELEFNICA, S.A. (Telefnica), as provided in article 82 of the Spanish Securities Market Act (Ley del Mercado de Valores), hereby reports the following
SIGNIFICANT EVENT
Following the Significant Event distributed by Telefnica on August 5th, 2014 about the offer for Global Village Telecom, S.A. (GVT) and in light of the request for public information made on the same day by the Italian Stock Market Regulator - CONSOB, Telefnica provides the following information:
 the potential acquisition by Vivendi, S.A. of up to 1,110 million ordinary shares of Telecom Italia, S.p.A. is a potential arrangement which Telefnica is offering to Vivendi, S.A.;
 the relevant terms of such opportunity are summarised in the Significant Event distributed by Telefnica. In particular, should Vivendi, S.A. be interested, Telefnica, S.A. would offer to Vivendi, S.A. the acquisition, in cash up to 1,110 million ordinary shares of Telecom Italia, S.p.A., currently representing a stake of 8.3% of Telecom Italia, S.p.A. voting share capital. The transfer of the shares would take place at closing of the transaction between Vivendi S.A. and Telefnica Brazil, S.A., directly (if the demerger of Telco S.p.A. has occurred) or, through a convertible instrument (should not this be the case), under conditions to be agreed between Telefnica, S.A. and Vivendi, S.A., and for a purchase price in cash based on the average market price of the shares of Telecom Italia S.p.A. over a certain period of time to be agreed between the parties. Should Vivendi, S.A. decide to acquire the shares of Telecom Italia S.p.A., it shall accept neither to sell nor to hedge any such shares before October 31st, 2014. 
Madrid, August 6th, 2014

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCPFMRTMBMMMII