(CercleFinance.com) – Telefonica held 93.1% of the capital and voting rights of Telefonica Deutschland following the public purchase offer launched for minority interests in its German subsidiary, according to a press release published Monday.
At the time of formalization of its offer, that is to say at the beginning of December, the Spanish telecommunications group controlled around 71.8% of the entity.
The operator Ax explained that its public purchase offer (OPA) for the 28.2% of Telefonica Deutschland that it did not yet hold was mainly aimed at simplifying its corporate structure.
The idea is also to enable an increase in Telefonica Deutschland’s contribution to the consolidated accounts and to the cash flow available to shareholders.
The settlement and delivery of securities is now scheduled for Friday January 26.
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