Tender Public Offer Sogecable

Telefonica SA
09 May 2008


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

                             SIGNIFICANT EVENT

Regarding the tender public offering launched by PROMOTORA DE INFORMACIONES,
S.A. ('PRISA') over the share capital of SOGECABLE, S.A., the Company will
notify during the course of this morning of its decision as regards its
participation in said offer.

Madrid, May 9th, 2008



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