Telefonica has completed the accelerated bookbuilding offer of treasury stock launched on 25 March. The operator has completed the underwritten placement of 90.07 million treasury shares, representing 1.979 percent of its share capital, to qualified and professional investors.
This amount represents the company’s current total treasury shares. The stock was placed at EUR 10.80 per share. The amount of the sale is around EUR 975 million, which will be used to reduce debt. For accounting purposes this transaction will increase the equity of Telefonica by EUR 31 million, having no impact on the income statement, the company said.
