Telefónica Local Services completed the acquisition of a 7.86% stake in Telefónica Deutschland Holding AG for approximately ?550 million.
Bank of America and J.P. Morgan are acting as financial advisors, and Christian Cascante, Jochen Tyrolt, Steffen Carl, Jacob von Andreae, Stefan Mayer, Johann Wagner, Ingo Brinker, Stephan Aubel, Andreas Neun and Christian Arnold of Gleiss Lutz, Davis Polk & Wardwell LLP and Uría Menéndez as legal advisors to Telefónica. Citi and Goldman Sachs provided fairness opinion to management and supervisory board of Telefónica Deutschland. Oliver Thurn and Karsten Heider of CMS acted as legal advisors to Management Board of Telefónica Deutschland.
Telefónica Local Services completed the acquisition of a 7.86% stake in Telefónica Deutschland Holding AG (XTRA:O2D) for approximately ?550 million on January 17, 2024. In addition, since the Offer was announced, Telefónica has acquired (other than pursuant to the Offer) 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 Bidder expects the settlement of the Offer and the payment of the offer price to occur on January 26, 2024. On completion, the persons acting jointly with the Bidder held 2,769,413,111 corresponding to approximately 93.10% of Telefónica Deutschland?s share capital and the voting rights.