31st Mar 2005 12:54
Telefonica SA31 March 2005 ANTONIO J. ALONSO UREBA Director, General Secretary and Secretary to the Board of Directors TELEFONICA, S.A. Telefonica S.A., as provided in article 82 of the Spanish Securities Market Act(Ley del Mercado de Valores), hereby reports the following SIGNIFICANT EVENT As part of the privatisation process for the listed Czech company Cesky Telecoma.s., Telefonica S.A. submitted a binding bid to purchase 51.1% of the equity inthis company on 29 March. The bid price submitted by Telefonica S.A. is 502Czech korunas per share, representing a total value of 2,745.87 million euro for51.1% of the share capital of Cesky Telecom a.s. Information issued yesterday by the Privatisation Committee formed for thisprocess included a non-binding recommendation to the government of the CzechRepublic in the light of bids submitted. In accordance with this information,the Privatisation Committee has proposed that the bid of Telefonica S.A. bedeclared winner of the tender, through which the privatisation is beingconducted. Telefonica S.A. is awaiting the final decision to be adopted in this respect bythe government of the Czech Republic. Madrid, March 31st, 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TDE.L