Telefónica Deutschland Endorses Delisting Acquisition Offer

The management and supervisory boards of Telefónica Deutschland Holding AG have jointly advised shareholders to accept a delisting acquisition proposal. This decision reflects the low liquidity of the stock and diminishes its relevance for the company. The voluntary offer, made by Telefónica Local Services GmbH, stands at EUR 2.35 per share.

Considering strategic and financial benefits, delisting is deemed beneficial. The company's boards found the offer financially fair, relying on their assessment without seeking further fairness opinions. Since their previous statement in December 2023, no significant changes in the market, interest environment, or company performance have warranted a reassessment.

While recommending acceptance, the boards emphasize that shareholders should make individual decisions based on their circumstances and outlook for the company's stock. The offer's acceptance window is open until 18 April 2024, dependent on standard conditions and no major market shifts. Full offer details are accessible online with the joint statement available on Telefónica Deutschland's website.