Telefonica completes EUR 3 bln rights issue to fund GVT buy

Friday 17 April 2015 | 14:03 CET | News
Telefonica has announced the completion of its EUR 3.05 billion rights issue to help fund its EUR 7.2 billion purchase of Brazilian broadband operator GVT. In a statement to Spain's market regulator CNMV, the operator said it sold just over 281 million shares in the rights issue, which will be used to subscribe to a separate capital hike by its Brazilian subsidiary. The company added that the offering was oversubscribed at a rate of nearly 3.7 times the number of shares offered. 

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Categories: General
Companies: GVT / Telefonica
Countries: Brazil / Spain
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