Vladimír Urbánek (Kurzy.cz)
World markets  |  October 11, 2012 11:27:47

Telefónica SA came from the German daughters dividend 4.3 mld.EUR before IPO O2 Germany

Spain's Telefonica SA announced that its German daughter from Telefonica Germany has received prior notification IPO dividend totaling 4.3 mld.EUR. Spanish mother at the same time promised T. Deutschland capital commitment of $ 2.9 mld.EUR. German company to conclude this year with net debt of 1.2 mld.EUR.
The whole maneuver to improve the debt position of Spanish mother who tries to avert further downgrades by S & P. Operations also optimizes the efficiency of the balance sheet structure of the German daughters.
Spanish mata plans as part of that IPO offer about 20-a 30 percent stake in the German daughter. The shares should start trading on the stock exchange in Frankfurt later this quarter. An estimated 20% of the selling company gained 1.5 mld.EUR, which hailed it all to about 7.5 mld.EUR.

4.3 billion dollar dividend consisted of 1.3 mld.EUR cash reserves of the German daughters, also from 1.25 mld.EUR internal loans and 1.05 mld.EUR from operating cash flow, and the remaining 700 million euros came from the nejádrových assets.

Telefonica Deutschlend provides services to 18.8 million paying clients, which ensures the position of the third largest wireless companies in Germany. It is estimated that sales of German divisions will grow up to 2015 a year by about 3%, while it is estimated that the growth of mobile services revenue offset a reduction in revenue from fixed-line and cable connections. Operating profit before amortization and revaluation should in the same period a year to grow by about 5%.

The main upcoming IPO managers are UBS, JPMorgan Chase, to participate in the subscription will also BoA, BNP Paribas, Citigroup and HSBC.
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Telefónica SA dostala od německé dcery dividendu 4,3 mld.EUR před IPO O2 Germany

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