Technology

Telefonica now owns 93.1 percent of O2.

The Spanish telecommunications giant Telefonica has increased its stake in O2 from 71.8 percent to 93.1 percent with an acquisition offer.

Eulerpool News Jan 22, 2024, 7:00 PM

Telefonica, the Spanish telecommunications giant, has increased its stake in the German subsidiary O2 by offering to acquire 71.8 percent to 93.1 percent. This means that the company has increased its stake by 7.9 percent by completing the offer last week and additionally acquiring 13.4 percent of the shares on the market. Overall, Telefonica has spent 1.48 billion euros on shares of Telefonica Germany since December.

The takeover offer could enable Telefonica to forcibly settle the remaining shareholders of the German subsidiary, which has been listed on the stock exchange since 2012, as the company now holds more than 90 percent of the shares. Whether this will happen has been left open by Telefonica in the offer prospectus.

However, it is likely that Telefonica Deutschland will be removed from the small-cap index MDAX in the coming days, as a minimum holding of ten percent is required for membership there. The Telefonica stock temporarily gains 0.21 percent to 3.788 euros in Madrid.

The titles of the Germany subsidiary, on the other hand, record a decline of 0.42 percent to 2.35 euros via XETRA.

It remains to be seen how the takeover offer will affect the future of Telefonica and Telefonica Deutschland. One thing is certain, however: The Spaniards have once again demonstrated their strong presence in the German market with the increase of their stake.

Discover undervalued stocks with Eulerpool.

Subscribe for $2

News

Gold breaks historical mark: Investors flee to the safe haven

The price of gold has reached a new dimension: For the first time, an ounce costs more than 4,000 US dollars – another peak in an extraordinary rally that has driven the price up by more than 50 percent since the beginning of the year.

AfD joins Wagenknecht party: Recount of federal election to overturn government majority

The demand for a recount of the Bundestag election is gaining momentum: Following the Sahra Wagenknecht Alliance (BSW), the AfD is now also pushing for a re-evaluation of the votes—with potentially far-reaching political consequences.

Deutsche Bank Stock in Focus: The 30-Euro Mark Becomes the Decisive Touchstone

A crucial week lies ahead for Deutsche Bank's stock: After the recent setback, it is now grappling with the psychologically important mark of 30 euros—a hurdle that is likely to determine the future course of action.

Warning Signal from Washington: Markets Underestimate the Return of Inflation

The deceptive calm in the financial markets could soon come to an end – more and more data suggests that inflation in the US is rising again, and investors are significantly underestimating the danger.

Wall Street on a high – but fear of the bubble is growing

The record chase on the US stock exchanges continues: Both S&P 500 and Nasdaq are marking new highs, driven primarily by the unabated AI euphoria. Yet, behind the euphoria, warning voices are increasing.