Telefónica to float up to 30% of Endemol

13 Sep 2005

A spokesman for Spanish telecoms giant Telefónica has confirmed that the company plans to float between 20% and 30% of its Dutch media division Endemol on the Amsterdam stock exchange by the end of the year. The news comes in the wake of press reports in several Spanish newspapers over the weekend, which quoted the company’s chairman Cesar Alierta as saying a flotation could take place. Telefónica acquired Endemol for EUR5.5 billion in 2000, but later announced its intention to offload the unit as part of its wider refocus on its telecoms-related businesses.

Netherlands, Spain, Telefonica