Telefonica looking to acquire 66 pct of Olimpia for 3 eur/shr - report |
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Thu, 19 Apr 2007 08:45
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MADRID (Thomson Financial) - Telefonica SA is planning an offer of some 4.8 bln eur or 3 eur per share for 66 pct of Olimpia, El Economista reported, citing unnamed sources.The offer will include a condition that Telefonica will not interfer in Telecom Italia SpA management.The Olimpia stake is worth the equivalent of 12 pct of TI.According to the newspaper, Banca Intesa Sanpaolo and Mediobanca acknowledged they are in preliminary talks with possible partners for Telecom.A partnership with Telecom will help Telefonica assure that the Italian peer does not sell its assets in Argentina and Brazil to Mexican magnate Carlos Slim, the newspaper noted.Telefonica would likely pay for the deal with the 3.0 bln eur from the sale of its Airwave affiliate, it added.tfn.europemadrid@thomson.comccs/ped/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Telefonica declines comment on report of possible offer for Telecom Italia 