Telefonica Deutschland: no plans to place more shrs
FRANKFURT Oct 17 (Reuters) - Telefonica Deutschland said parent company Telefonica will not seek to sell additional shares on the market once placement of a stake in the German unit is completed.
"There is no further strategy in terms of them selling down a minority stake," Rachel Empey, finance chief of Telefonica Deutschland Holding AG, told journalists on Wednesday.
"Germany is the jewel in the crown. It is one of the key businesses. There is no intention to sell further shares," she added.
Telefonica hopes to raise around 1.5 billion euros by selling about 23 percent of its O2-branded German subsidiary on the stock market. The shares are expected to begin trading on Oct. 30. (Reporting By Edward Taylor)
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