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Telefonica Deutschland announces delisting from Frankfurt stock exchange

Telefonica Deutschland said on Thursday it intends to delist from the Frankfurt stock exchange after signing an agreement with parent company Telefonica SA.

The German telecom firm said its parent company, via a special purpose entity, offered a cash compensation of 2.35 euros ($2.56) per share for the remaining stake.

Telefonica SA currently owns more than 94% of the shares in Telefonica Deutschland.

In December, parent company Telefonica said it had no plan to delist Telefonica Deutschland following the ongoing tender offer.

Telefonica Deutschland said the parent company does not intend to support the distribution of dividends for further financial years apart from the 2023 dividend. Reuters

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