Telefonica to list 23,17% of its German subsidiary O2. The start of trading is scheduled for 30 October and the price range established for the IPO is between 5,25 and 6,5 euros per share. The Iberian telephone giant aims to obtain 1,52 billion from the operation. The capital will be used to reduce the group's net debt, which at the end of June amounted to 58,3 billion euros.
“A total of 225 million shares will be offered to the market and lead banks will have the option to purchase up to 33,75 million extra shares,” Telefonica said in a statement. Titles will be placed between October 17 and 29.
