EQS-Adhoc

Telefónica Deutschland intends to delist, delisting agreement signed, Telefónica Local Services plans delisting acquisition offer, expected change to dividend policy

EQS-Ad-hoc: Telefónica Deutschland Holding AG / Key word(s): Delisting/Dividend Telefónica Deutschland intends to delist, delisting agreement signed, Telefónica Local Services plans delisting acquisition offer, expected change to dividend policy 07-March-2024 / 08:08 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Telefónica Deutschland Holding AG intends to delist, Delisting agreement with Telefónica Local Services GmbH signed, Telefónica Local Services GmbH plans delisting acquisition offer at EUR 2.35 per share, expected change in dividend policy

 

Munich, 7 March 2024. Telefónica Deutschland Holding AG (ISIN DE000A1J5RX9) (‘Telefónica Deutschland’ or ‘Company’) has today signed a delisting agreement with Telefónica Local Services GmbH (‘Bidder’), who owns slightly less than 8% of the shares in the Company and whose parent company Telefónica, S.A. holds including the shares of the Bidder more than 94% of the shares in the Company.

Based on this delisting agreement, Telefónica Deutschland shall apply for revocation of the admission of Telefónica Deutschland shares to the regulated market (so-called delisting) after publication of a public delisting acquisition offer by Telefónica Local Services GmbH.

In the delisting agreement, the Bidder has committed to launch a public delisting acquisition offer to Telefónica Deutschland shareholders in the form of a cash offer to acquire all shares of the Company not already directly held by the Bidder against the payment of a cash compensation of EUR 2.35 per Telefónica Deutschland share. The Delisting Agreement provides that the consideration offered to the holders of Telefónica Deutschland shares in the offer document shall be EUR 2.35 per Telefónica Deutschland share and will comply with the statutory minimum price rules pursuant to § 39 para. 3 sentence 2 of the German Stock Exchange Act (‘BörsG’) in conjunction with § 31 German Securities Acquisition and Takeover Act (‘WpÜG’) and the applicable provisions of the WpÜG Offer Regulation.