Telefonica SA Sets Price Range For German Unit IPO-Reuters

Reuters reported that Telefonica SA has given a narrower indicative price range to investors for the listing of its German unit. The Company is looking for a listing at between EUR 5.50 and EUR 6.00 per share. Previously the Company had set a range for between EUR 5.25 and EUR 6.50 for the business. Telefonica SA expects to raise around EUR 1.5 billion with the offering, will set the final price on October 29, 2012 with the shares expected to begin trading on October 30, 2012.