TDE.L Regulatory News (TDE)

13 Jun 2005 07:01

Telefonica SA10 June 2005 Further to the reports registered on March 31st and April 6th and 12th, 2005,Telefonica S.A., as provided in article 82 of the Spanish Securities Market Act(Ley del Mercado de Valores), hereby reports the following SIGNIFICANT EVENT The European Commission has authorised the concentration operation wherebyTelefonica, S.A. is to take control of the Czech telecommunication operatorCesky Telecom a.s. by purchasing 51.1% of its share capital. Telefonica, S.A. received notification today of the decision of the EuropeanCommission not to oppose the Cesky Telecom a.s. share purchase operation byTelefonica. In its decision, the European Commission considers that thetransaction does not significantly affect competition in either all or asubstantial part of the European Economic Area, so authorising it without anyconditions. Subsequent to this authorisation, Telefonica, S.A. expects the acquisition couldin normal circumstances be implemented this June. The purchase by Telefonica, S.A. of 51.1% of the equity of Cesky Telecom a.s.implies the subsequent formulation of a public tender offer for the other 48.9%of equity in the company. Madrid, June 10th, 2005. This information is provided by RNS The company news service from the London Stock Exchange