Telefonica completes tender offer; ups stake to 97.9%

8 Jan 2009

Telefonica has confirmed that it has completed its tender offer for the shares it did not already own in Chilean fixed line incumbent Telefonica Chile. Preliminary results show that the Spanish firm acquired 7.67 million shares in Chile and 805,894 American Depositary Shares in the US, raising its stake to 97.9% of total outstanding shares.

Chile, Telefonica Moviles Chile (Movistar)