Telefonica Buys More Telefonica Deutschland Shares
By Helena Smolak
Telefonica said it acquired additional shares in its subsidiary, Telefonica Deutschland, following its move in November to take full control of its German unit.
The Spanish telecommunications company said Monday that it obtained up to 13.43% of the subsidiary's shares, and now holds a total of 93.10% of Telefonica Deutschland's share capital.
Telefonica now directly or indirectly holds 2.76 billion shares in Telefonica Deutschland, for 1.48 billion euros ($1.61 billion) funded with cash, it said.
The transaction is expected to complete on Friday, the company said.
In November, Telefonica said it was launching a bid to take full ownership of Telefonica Deutschland, offering EUR1.97 billion for the shares it didn't hold.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
January 22, 2024 02:33 ET (07:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth