16th Jun 2005 13:06
Telefonica SA16 June 2005 Further to the report registered on June 10th, 2005 under RNS No. 4581N,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 After having obtained the required authorisation of the European Commission onJune 10th, 2005, Telefonica. S.A. and the National Property Fund, the CzechRepublic's privatisation entity, have today closed the sale of 51.1% of thetelecommunications operator Cesky Telecom. The price for the acquisition of51.1% of the operator's capital stands at EUR 2,746 million, as expected. The acquisition of Cesky Telecom further develops Telefonica's strategy oforganic growth complemented with selective acquisitions with strong positions intheir respective markets. Cesky Telecom is the leading operator in fixed andmobile services in the Czech Republic, with an edge over its competitors thanksto being the sole integrated operator in its market. In March 2005, the companyoperated 9 million of accesses. In accordance with Czech legislation, within 60 days from today, Telefonica willlaunch a tender offer for the remaining share of the capital stock, i.e. for upto 48.9%. The terms of the tender offer will be published after approval by theCzech authorities. Madrid, June 16th, 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TDE.L