Telefonica SA TEF - Sale of Telef to Viacom International Inc (2670P)
November 15 2016 - 11:22AM
UK Regulatory
TIDMTDE
RNS Number : 2670P
Telefonica SA
15 November 2016
RAMIRO SÁNCHEZ DE LERÍN GARCÍA-OVIES
General Secretary and
Secretary to the Board of Directors
TELEFÓNICA, S.A.
TELEFÓNICA, S.A. as provided in article 228 of the Spanish Stock
Market Act (Ley del Mercado de Valores), hereby reports the
following
SIGNIFICANT EVENT
Telefónica, S.A. announces that the 100% of the share capital of
Televisión Federal, S.A., ("Telefé"), which was indirectly owned by
Telefónica, S.A., has been sold today to Viacom International
Inc.
The equity value of the transaction, received today, is 345
million US dollars (approximately 322 million euros). The pre-tax
capital gain estimated amounts to, approximately, 205 million
euros.
This operation is part of Telefónica Group's asset portfolio
management policy, based on a strategy of value creation and
strategic positioning. Likewise, it also complements the objective
of organic debt reduction, in a growing cash flow scenario.
Madrid, November 15, 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
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November 15, 2016 12:22 ET (17:22 GMT)
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