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Telefónica’s takeover bid for German subsidiary

November 7, 2023

From David Del Valle in Madrid

Telefónica Group has launched a takeover bid for its subsidiary in Germany Telefónica Deutschland.

The Spanish group wants to acquire a futher 28.19 per cent to take full control at an estimated cost of nearly €2 billion.

Telefónica Group currently has a 71.81 per cent stake in Telefónica Deutschland, one of Telefónica’s global crown jewels – along with those in the UK and Brazil.

Telefónica Deutschland reported 2023 profits of €125 million to September 30th, up 17.92 per cent.

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