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I had dealings with this O2 company years ago and soon realised I was dealing
with folks who didnt know what they were doing.
The High Street stores had truly time wasting customer service I gave up.
They still owe me 60 pounds and stopped negotiating.
No body could exp-lain what all the tech problems were.
not a clue.
no,but noticed them this morning,on the cnbc ticker,in lumps of 5mills,but none of them showing on the lse share trades.odd?
trade...bigger than big.lol......
24 September 2013
TELEFÓNICA, S.A. as provided in article 82 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following
Telefónica and the remaining shareholders of the Italian company Telco, S.p.A. (which holds a capital stake of 22.4 % of the voting share capital of Telecom Italia S.p.A.) have reached an agreement by virtue of which:
- As of today, Telefónica has subscribed for and paid out a capital increase in Telco, S.p.A., through the contribution of 323,772,468 euros in cash, receiving in return non-voting shares of Telco, S.p.A. As a result of this capital increase, the interest held by Telefónica in the voting share capital of Telco, S.p.A. remains unchanged (i.e. 46.18 %, as Telefónica currently holds), although its interest in the total share capital of Telco, S.p.A. is increased to 66%. The current governance at Telco, S.p.A.'s level remains unaffected, including the obligation by Telefónica of abstaining from participating or influencing in any decisions which could affect the markets in which both Telefónica and Telecom Italia S.p.A. are present.
Telco, S.p.A. will use the proceeds received from the capital increase to reduce its banking debt.
- Subject to receiving any required anti-trust and telecommunications approvals (including in Brazil and Argentina), Telefónica will subscribe for and pay out a second capital increase in Telco, S.p.A., through the contribution of 117,227,532 euros in cash and receiving in return non-voting shares of Telco, S.p.A. As a result of this second capital increase, the interest of Telefónica in the voting share capital of Telco, S.p.A. will remain unchanged (i.e. 46.18 %, as Telefónica currently holds), although its interest in the total share capital will be then increased to 70%.
Telco, S.p.A. will use the proceeds received from the second capital increase to partially repay its notes.
- Starting from January 1, 2014, subject to receiving any required relevant anti-trust and telecommunications approvals (including in Brazil and Argentina), Telefónica may convert all or a portion of the non-voting shares in Telco, S.p.A. held by Telefónica, reaching a maximum of 64.9 % of the voting share capital of Telco, S.p.A.
- The Italian shareholders of Telco, S.p.A. have granted to Telefonica a call option to acquire all of their shares in Telco, S.p.A., whose exercise is subject to receiving any required anti-trust and telecommunications approvals (including in Brazil and Argentina). The call option may be exercised by Telefonica starting from January 1, 2014 while the Shareholders Agreement remains in effect, except (i) between June 1,2014 and June 30, 2014 and between January 15, 2015 and February 15, 2015, and (ii) during certain periods, in case the Italian shareholders Telco, S.p.A. request the demerger of Telco, S.p.A.
The purchase price of the shares, payable in c
Following the merger between Colombia Telecomunicaciones, S.A. ESP and Telefónica Móviles Colombia, S.A., Telefónica will hold 70% of the share capital of the resulting company while the Government will control the remaining 30%. Likewise, by virtue of the agreements signed, the Government could increase its stake in the merged company in an additional 3% by 2015, based on its operating performance.
The merger of both companies will create the second largest integrated operator in Colombia and will allow the new company to strengthen its competitive position in the Colombian market and improve its outlook for future growth. Based on integrated, flexible and efficient management, the Company will offer a full range of telecommunications services. This, together with the larger size of the Company, will enable the capture of important synergies in the coming years.
Telefónica, S.A. ("Telefónica") hereby reports that Telefónica Móviles Colombia, S.A. (a company fully owned by Telefónica), the Colombian government (hereinafter "the Government"), and Colombia Telecomunicaciones, S.A. ESP (a company 52% owned by Telefónica Group and 48% by the Government) have reached a final agreement to restructure their fixed and mobile business in Colombia.
Such agreements include, among other commitments, the assumption by the Government of 48% of the payment obligations not yet due of Colombia Telecomunicaciones, S.A. ESP to the Patrimonio Autónomo Receptor de Activos de la Empresa Nacional de Telecomunicaciones - PARAPAT.
The agreements reached also include an amendment to the Operating Contract for the extension in six years, to 2028, of the payment obligations not yet due of Colombia Telecomunicaciones, S.A. ESP to the PARAPAT.
As a result of these agreements, the net financial debt which will be fully consolidated in the financial statements of the Telefónica Group, will fall by approximately 1,300 million euros.
This agreement includes, and is subject to the merger of Colombia Telecomunicaciones, S.A. ESP and Telefónica Móviles Colombia, S.A. that will become effective after the approval has been granted by the General Shareholders' Meetings of both companies, (whose shareholders, as mentioned above, are companies of the Telefónica Group and the Government), due to take place on 24 April 2012, and after receipt of the appropriate regulatory approvals.
RNS Number : 6483N
15 June 2010
In accordance with the provisions of article 82 of the Spanish Securities Market Act (Ley del Mercado de Valores), TELEFÓNICA, S.A. hereby reports the following
On the occasion of the Extraordinary General Meeting called by PORTUGAL TELECOM, SGPS, S.A. (PT) for 30 June 2010, TELEFÓNICA, S.A (TEF), as owner of 76,327,500 of the Portuguese company's shares, equivalent to approximately 8.51% of its share capital and in compliance with Portuguese law, has requested that an additional item be included on the agenda of said meeting, as specified in the attached proposal. The objective of this proposal is to submit a resolution to PT's shareholders in the event that the Extraordinary General Meeting decides to accept the offer presented by TEF to acquire PT's stake in Brasicel, N.V. and, indirectly, in Vivo Participações, S.A, to strengthen the company's current shareholder remuneration policy through the distribution of a supplemental and extraordinary dividend in the amount of Euro 1 per share, or superior in case the PT´s Board of Directors so proposes, concerning the financial year of 2010. Madrid, 15 June 2010. PROPOSAL Proposal of resolution of the shareholder Telefónica, S.A. for the item which inclusion in the agenda of the Shareholders Meeting of Portugal Telecom SGPS, S.A. of June 30, 2010 is requested New item Two of the Agenda Considering that: 1. Portugal Telecom SGPS, S.A. has been adopting a consistent policy on the allocation of dividends under which the business opportunities of the Group and the self financing needs are considered; 2. According to the general policy on the distribution of dividends assumed by the Board of Directors, a proposal would be submitted to the shareholders' meeting aiming at the distribution of a level of dividends per share of 0,575 Euros regarding the financial years of 2009, 2010 and 2011, such proposal being dependent of the market conditions and subject to the financial situation of Portugal Telecom SGPS, S.A.