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Answer to Panel on Takeovers

16th Sep 2005 10:24

Telefonica SA16 September 2005 Telefonica S.A., as provided in article 82 of the Spanish Securities Market Act(Ley del Mercado de Valores), hereby reports the following NOTICE That, the Company in answer to the request of the "Panel on Takeovers andMergers" of the United Kingdom, has sent to this organism the followingannouncement: "In response to the request of the "Panel on Takeovers and Mergers", the Companynotes the recent press reports concerning its acquisition strategy and possibleacquisition targets (including O2 plc) following the responses of Mr Alierta,the chairman of Telefonica S.A, to various questions after theTelecommunications Businesses Integration Conference held at the SummerUniversity of Santander on September 5, 2005. The comments regarding O2 plc were of a general nature and related to theprofile of companies which would add value to the Company. Telefonica S.A hasnot commented on and does not wish to comment on the possibility of acquiringany particular potential target or targets in Europe or elsewhere. The Company is also pleased to announce that it continues to be interested bythe opportunities in South America, notably in Colombia, in the fixed lineoperation domestic companies, and that such opportunities are now being analysed". Madrid, September 15, 2005 This information is provided by RNS The company news service from the London Stock Exchange

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