Telefonica completes EUR 3 bln rights issue to fund GVT buy

News General Brazil 17 APR 2015
Telefonica completes EUR 3 bln rights issue to fund GVT buy
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. 

Categories:

General

Companies:

GVT,  Telefonica

Countries:

Brazil,  Spain

Tags:

Wholesale, Financial funding, M&A buyouts & divestments

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