Telefonica SA
30 April 2003
ANTONIO J. ALONSO UREBA
Director, General Secretary
and Secretary of the Board of Directors
TELEFONICA, S.A.
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
At its meeting of April 30th, 2003 the Board of Directors of Telefonica, S.A.
has resolved, as part of the divestment process of its interest in Antena 3 de
Television, S.A., as required by the Spanish legislation on private television,
and in accordance with the resolutions adopted by the shareholders of
Telefonica, S.A. in their General Meeting of April 11th, 2003, as follows:
1. To accept the offer presented by GRUPO PLANETA for the 25.1% equity interest
owned by Telefonica, S.A. in Antena 3 de Television, S.A.
2. In accordance with the offer, the value of Antena 3 de Television, S.A., for
sale- purchase purposes, amounts to 1,450 million euros.
3. The sale- purchase agreement is subject to two conditions precedent, the
obtaining of the administrative authorization provided in the Spanish Act 10
/88 on Private Television (Ley de Television Privada) and the clearance from
the Spanish Competition authorities.
4. The sale- purchase shall be subject to the condition subsequent that the
shares of Antena 3 de Television, S.A. be listed for trading in the Spanish
stock market.
In Madrid, April 30th, 2003
This information is provided by RNS
The company news service from the London Stock Exchange
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