20th Jan 2009 15:00
Telefónica O2 has sold its former headquarters
20 January 2009
Yesterday, Telefónica O2 Czech Republic, a.s. signed a master agreement with Pražská správa nemovitostí, spol s r.o. and Central Group a.s. for sale of its former headquarters in Olšanské street in Prague.
The sold real estate consist of a construction site in Olšanská street No. 4 with total area of 12.5 thousand square meters and two administrative buildings of the former headquarters in Olšanská street No. 3 and No. 5. Telefónica O2 does not occupy those buildings, thus not leasing them back.
This real estate sale is an integral part of the already declared company's strategy to focus on an efficient utilization of its assets needed for the core business, which is telecommunications. To fulfill this strategy the buildings with strategic interest for the company and also those with a high occupancy will remain in Telefónica O2 ownership.
"The sale of the former headquarters in Olšanská street follows the sale of three country-wide real estate portfolios, which was made in May last year. Given the current market conditions, I am really pleased we have been able to successfully finalize this transaction with our partners. This deal will help us to stay focused on efficient execution of our core business ", says Salvador Anglada, the CEO and the Chairman of the Board of Directors when commenting on the deal, adding. "I expect that the financial impact will be recognized mainly in the first quarter of 2009 as one-off gain from the real estate sale exceeding CZK 300 million and also in the form of incremental cash contribution."
In the transaction, Telefónica O2 has been supported by KNIGHT FRANK, spol. s r.o. in the area of real estate advisory, by Baker & McKenzie, v.o.s. as legal counsel and by Erste Corporate Finance, a.s. in the area of financial advisory. All three companies rank among the top advisory companies in their areas in the Czech Republic.
Contacts
Vlastimil Sršeň
Press/Media Communications Director
Telefónica O2 Czech Republic, a.s.
tel: 800 163 342 (800 1 media)
About Telefónica O2 Czech Republic
Telefónica O2 Czech Republic is a major integrated operator in the Czech Republic. It is now operating more than seven million lines, both fixed and mobile, making it one of the world's leading providers of fully converged services. The organization offers the most comprehensive portfolio of voice and data services in this country. It is paying special attention to the exploitation of the growth potential, particularly in the data and Internet sector. Telefónica O2 Czech Republic operates the largest fixed and mobile network including a 3rd generation network, CDMA (for data), and UMTS, enabling voice, data and video transmission. Telefónica O2 Czech Republic is also a notable provider of ICT services.
About Telefónica Europe
Telefónica Europe is a business division of Telefónica comprising mobile, fixed, and DSL operations in the UK, Ireland, the Isle of Man, Germany, the Czech Republic, and Slovakia. With the exception of Isle of Man, all the operating businesses use 'O2' as their consumer brand. Telefónica Europe also has 50% ownership of the UK and Irish Tesco Mobile and German Tchibo Mobilfunk joint venture businesses. Telefónica Europe is headquartered in Slough, UK, and has 49 million mobile and fixed customers.
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