REG - Telefonica SA - TEF - Sale of Telefé to Viacom International Inc <Origin Href="QuoteRef">TEF.MC</Origin>

Telefonica SAAnnouncement

15/11/2016 17:25

RNS Number : 2670P
Telefonica SA
15 November 2016
RAMIRO SNCHEZ DE LERN GARCA-OVIES
General Secretary and
Secretary to the Board of Directors
TELEFNICA, S.A.
 
TELEFNICA, S.A. as provided in article 228 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following
SIGNIFICANT EVENT
Telefnica, S.A. announces that the 100% of the share capital of Televisin Federal, S.A., ("Telef"), which was indirectly owned by Telefnica, S.A., has been sold today to Viacom International Inc.
The equity value of the transaction, received today, is 345 million US dollars (approximately 322 million euros). The pre-tax capital gain estimated amounts to, approximately, 205 million euros.
This operation is part of Telefnica Group's asset portfolio management policy, based on a strategy of value creation and strategic positioning. Likewise, it also complements the objective of organic debt reduction, in a growing cash flow scenario.


Madrid, November 15, 2016. 

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