Telefonica Deutschland Enters Delisting Agreement

(RTTNews) - Telefonica Deutschland Holding AG has signed a delisting agreement with Telefonica Local Services GmbH, who owns slightly less than 8% of the shares in Telefonica Deutschland. Telefonica Deutschland shall apply for revocation of the admission of its shares to the regulated market after publication of a public delisting acquisition offer by Telefonica Local Services GmbH. Telefonica Local Services has committed to launch a public delisting acquisition offer to Telefonica Deutschland shareholders in the form of a cash offer to acquire all shares not already directly held, against the payment of a cash compensation of 2.35 euros per share.

Telefonica Local Services and its parent company Telefonica, S.A. have informed Telefonica Deutschland that, apart from the dividend for the financial year 2023, they currently do not intend to support the distribution of dividends for further financial years.

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