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.