Telefonica Deutschland Recommends Shareholders Accept Delisting, Acquisition Offer
By Mauro Orru
Telefonica Deutschland Holding said a cash offer from its Spanish owner for a stake that it doesn't already own is fair and recommends that shareholders accept it.
The German telecommunications company said Tuesday that the recommendation came after its management and supervisory boards had conducted separate and independent reviews of the offer from Spain's Telefonica.
Earlier this month, Telefonica offered 2.35 euros ($2.55) a share in cash for a 5.65% stake in Telefonica Deutschland to delist the company from the Frankfurt Stock Exchange.
Telefonica Deutschland said the acceptance period, which opened on March 20, would run until April 18.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
March 26, 2024 13:10 ET (17:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing