EQS-Adhoc

Telefónica Deutschland intends to delist, delisting agreement signed, Telefónica Local Services plans delisting acquisition offer, expected change to dividend policy - Seite 2

Considering all circumstances, Telefónica Deutschland's Management Board and Supervisory Board have concluded that the signing of the delisting agreement and the delisting are in the company's best interest. This decision is particularly based on the Management Board’s and the Supervisory Board’s view that the listing has lost its relevance for the Company and, therefore, the delisting is favourable with regards to strategic and financial considerations.

Against this background, Telefónica Deutschland has agreed to support the delisting acquisition offer subject to the review of the offer document and within the scope of its legal obligations. Without undue delay after publication of the offer document, the Management Board and the Supervisory Board will issue a reasoned statement pursuant to section 27 WpÜG on the delisting acquisition offer of Telefónica Local Services GmbH.

The Delisting will become effective after the expected decision of the Frankfurt Stock Exchange on the application for revocation of the admission of the Telefónica Deutschland shares. As soon as the revocation of the listing becomes effective, Telefónica Deutschland Holding AG's shares will no longer be admitted to trading on any domestic regulated market or a comparable market abroad and will no longer be traded.

Against the background of the planned delisting, the originally envisaged date in May for the Company's Annual General Meeting will be postponed to a later date, yet to be announced. In any event, the AGM will take place after the settlement of the delisting offer and no earlier than Mid-June 2024.

The Bidder and its parent company Telefónica, S.A. have informed the Company that, apart from the dividend for the financial year 2023, they currently do not intend to support the distribution of dividends for further financial years.

 

End of Inside Information

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07-March-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Telefónica Deutschland Holding AG
	Georg-Brauchle-Ring 50
	80992 München
	Germany
Phone:	[phone]
Internet:	www.telefonica.de
ISIN:	DE000A1J5RX9
WKN:	A1J5RX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1853221