Telefonica to place 90.07m of treasury stock shares

26 Mar 2013

Telefonica of Spain has announced plans carry out an underwritten placement of 90.07 million shares, equivalent to 1.979% of its total share capital, to ‘qualified and professional’ investors. No further details are forthcoming, although the Madrid-based company says that the terms and conditions for the sale and the final price will be forwarded to the country’s National Securities Market Commission in due course. It is understood that the stock placement will take place via an accelerated book-building process.

Spain, Telefonica