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General

Telefonica Germany starts rights issue for E-Plus takeover

Tuesday 9 September 2014 | 09:59 CET | News
Telefonia Deutschland has announced the terms of its capital increase to fund the takeover of KPN's E-Plus. The rights issue will see the company sell 1.12 billion new shares to existing shareholders, at a 28 percent discount of EUR 3.24 per share. Shareholders are entitled to buy one new share for every existing share held. The subscription will run from 10-23 September, and the new shares are expected to start trading 25 September in Frankfurt. Telefonica said it will exercise its subscription rights in full to maintain its 76.8 percent stake in the German subsidiary. Another 740 million

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Categories: General
Companies: E-Plus / KPN / Telefonica / Telefonica Deutschland
Countries: Germany
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