“The Telefónica Group’s investment is a great commitment to Telefónica Deutschland. It is a vote of confidence in our business and, above all, our employees here in Germany. Due to the reduced share liquidity, a delisting is in the best interest of all stakeholders,” says Markus HaasCEO of Telefónica Deutschland. “The remaining free float is low at less than six percent and the associated demand from private and institutional investors is reduced as well. We therefore want to delist our company from the stock exchange. This is a step that promises to further simplify the processes and structures in the Telefónica Group as a whole and to make the company even more flexible and long-term oriented.”
In the delisting agreement, the Bidder has committed to launch a public delisting acquisition offer to Telefónica Deutschland shareholders in the form of a cash offer to acquire all shares of the Company not already directly held by the Bidder against the payment of a cash compensation of EUR 2.35 per Telefónica Deutschland share. The Delisting Agreement provides that the consideration offered to the holders of Telefónica Deutschland shares in the offer document shall be EUR 2.35 per Telefónica Deutschland share and ran from December 5, 2023 to January 17, 2024.
