Result of Tender Offer CTC

RNS Number : 2749H

Telefonica SA

03 November 2008

 



TELEFÓNICA, S.A., as provided in article 82 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following

SIGNIFICANT EVENT

Upon completion of the acceptance period of the Tender Offer (the 'Offer') launched on September 11th through its wholly-owned subsidiary INVERSIONES TELEFÓNICA INTERNACIONAL HOLDING, LTDA. to acquire all of the outstanding shares of COMPAÑÍA DE TELECOMUNICACIONES DE CHILE, S.A. ('CTC'), TELEFÓNICA announces that a total of 458,071,586 Serie A shares and 38,270,113 Serie B shares issued by CTC have been tendered, representing 94.11% of the shares to which the Offer related and 51.86% of CTC's share capital.

After settlement of the transaction, TELEFÓNICA's indirect ownership in CTC's share capital will increase from 44.9% to 96.75%

The transaction has represented a total investment of approximately 542 billion Chilean pesos (approximately 640 million Euros, in accordance with the Exchange Rate prevailing when the transaction closed).

Madrid, November 3rd, 2008

 

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