Spanish telecoms group Telefonica has said it plans to list up to 23.17% in its German unit at between EUR5.25 and EUR6.50 (USD6.8-USD8.4) per share, valuing the stake at EUR1.52 billion, according to Reuters. A total of 225 million shares in Telefonica Deutschland Holding will be offered to the market, and the lead banks will have the option to buy up to 33.75 million additional shares. Telefonica, which is struggling to cut its debt burden amid falling revenue and profit in its domestic market, said that the offer period will commence on 17 October and is scheduled to end on 29 October, with trading to begin on the Frankfurt Stock Exchange the following day.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors