Stake acquisition in CNC

18th Jan 2008 08:44

Telefonica SA18 January 2008 TELEFONICA S.A., as provided in article 82 of the Spanish Stock Market Act(Ley del Mercado de Valores), hereby reports the following SIGNIFICANT EVENT TELEFONICA, S.A., through its subsidiary TELEFONICA INTERNACIONAL,S.A.U., has reached today an agreement to acquire an additional stake equal toapproximately 2.22% of the share capital of the Chinese telecommunicationscompany CHINA NETCOM GROUP CORPORATION (HONG KONG) LIMITED ("CNC"). Theexecution of this acquisition is subject to prior attainment of the necessaryregulatory approvals. After the acquisition, the TELEFONICA group's stake in CNCwould stand at approximately 7.22%. If completed, the acquisition of the aforementioned stake in the equity in CNCwill involve a total investment of approximately 309 million euros (depending onthe exchange rate prevailing when the transaction is closed). Madrid, January 18th, 2008. This information is provided by RNS The company news service from the London Stock Exchange

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Related Shares:

TDE.L