Spanish operator Telefónica announced it has increased its ownership in Telefónica Deutschland from approximately 71.81% to approximately 93.10%, for a total consideration of EUR 1.48 billion ($1.61 billion).
The transaction, which was carried out through Telefónica Local Services, a wholly-owned subsidiary of Telefónica, was funded entirely with cash.
The Spanish telco said that the end of the acceptance period of the offer was on January 17, 2024.
“The offer has been accepted by shareholders holding 7.86% of Telefónica Deutschland’s shares. In addition, since the offer was announced, Telefónica has acquired approximately 13.43% of the share capital and voting rights of Telefónica Deutschland. This includes the settlement of financial instruments that gave Telefónica the right to acquire approximately 1.32% of Telefónica Deutschland’s share capital,” the telco said.
