30th Mar 2006 16:04
Telefonica SA30 March 2006 TELEFONICA S.A., as provided in article 82 of the Spanish Securities MarketAct (Ley del Mercado de Valores), hereby reports the following: In light of the information published in the newspapers today in relation to theprivate sale process of TELEFONICA S.A.'s shareholding in TELEFONICAPUBLICIDAD E INFORMACION, S.A. (TPI), the Company wishes to clarify that theseven non-binding proposals presented by participants in the sale process arebelow the TPI share price as at the close of 29 March. It must also be statedthat the aforementioned non-binding offers are only the first phase of the saleprocess and are not indicative of the final price which may be offered. In accordance with the calendar for the process, the Company hopes that possiblebinding offers will be presented in the second half of April. The Company willanalyse these offers once received, but does not rule out considering otherstrategic alternatives in relation to its holding in TPI. Madrid, March 30th, 2006 Gran Via, 28 - 9o Planta - 28013 Madrid This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TDE.L