Telefonica S.A. — M&A Activity 2014

Jul 7, 2014

National Storage Mechanism | Additional information

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RNS Number : 5803L

Telefonica SA

07 July 2014

RAMIRO SÁNCHEZ DE LERÍN GARCÍA-OVIES

General Secretary and

Secretary to the Board of Directors

TELEFÓNICA, S.A.

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

Telefónica hereby announces that it has reached an agreement with Mediaset S.p.A. to invest, in the next months, EUR 100 million in the pay-TV business (Mediaset Premium) of Mediaset S.p.A. in Italy, in exchange of an 11,11% stake in such business. The enterprise value of Premium, before the contribution of Telefónica, has been set at EUR 800 million.

Madrid, July 7, 2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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