Telefonica Announces $31.4B O2 PLC Deal
An AP newswire article by Jane Wardell, via Yahoo! News, reports that:
Telefonica SA, the Spanish telecommunications powerhouse that has been expanding in Latin America and Eastern Europe, has agreed to buy mobile phone company O2 PLC in a $31.4 billion deal that will help expand in the United Kingdom and German markets.
The Spanish company said Monday it has agreed to pay 200 pence ($3.55) per share in cash for O2 shares, a 22 percent premium over their closing price on Friday. The O2 board recommended that shareholders accept the offer.
Telefonica Chairman Cesar Alierta said the deal will boost the company's capacity for growth and balance its exposure regionally, giving it more assets in Europe after a recent expansion in Latin America.
posted by Fergie @ 10/31/2005 06:42:00 AM
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