TDE.L Regulatory News (TDE)

4 Aug 2006 10:04

Telefonica SA04 August 2006 TELEFONICA, S.A. hereby submits the following NOTICE Antena 3 de Television, S.A. and the Telefonica Group have reached an agreementregarding the interpretation of the contract whereby the latter sold 100% ofUniprex, S.A. in 2002 in relation to the distribution between them of the costsarising from the arbitration-ordered termination of the collaboration agreementbetween Grupo Radio Blanca and Uniprex, S.A. According to the agreement, Telefonica assumes 30% of the costs of thearbitration proceedings for the Antena 3 de Television Group, which mainlyconsists of the amounts paid to the Grupo Radio Blanca as a result of thearbitration. As a consequence of the said agreement, Telefonica, S.A. and Grupo Planeta-DeAgostini, S.L. (as successor of KORT Geding, S.L. and main shareholder of Antena3 de Television, S.A.) have agreed in view of the economic costs caused by theaforesaid arbitration proceedings, the amount of the price adjustment to beapplied in favour of Planeta- De Agostini under the Antena 3 de Television, S.A.share sale-purchase agreement signed by the two companies on May 21st, 2003 willbe reduced from the 25.1% initially stipulated to 17.5% of the costs. Madrid, August 3rd, 2006 This information is provided by RNS The company news service from the London Stock Exchange