Telefonica S.A. — Delisting Announcement 2014

Jan 28, 2014

National Storage Mechanism | Additional information

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RNS Number : 7289Y

Telefonica SA

28 January 2014

TELEFÓNICA, S.A. as provided in article 82 of the Spanish Securities Market Act (Ley del Mercado de Valores), hereby reports the following

SIGNIFICANT EVENT

Following the Significant Event published on November 5th, 2013, in relation to the agreement reached between Telefónica S.A. (hereinafter Telefónica) and PPF Group N.V., for the sale by Telefónica of a 65.9% stake of Telefónica Czech Republic, a.s., Telefónica announces that after obtaining the relevant regulatory approval the transaction has been completed.

As indicated in the aforementioned Significant Event, after the transaction, Telefónica holds a 4.9% stake in Telefónica Czech Republic, a.s.. Additionally, Telefonica will remain as its industrial and commercial partner for the next four years.

This transaction is part of Telefónica's strategy to focus its business on its core markets and optimize its financial flexibility, which has allowed the reduction in net debt during each quarter of 2013. With this transaction, Telefónica meets its debt reduction and leverage ratio targets for 2013.

Madrid, January 28th, 2014

This information is provided by RNS

The company news service from the London Stock Exchange

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