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Telefonica SA Narrows Price Range for German IPO-DJ

Monday, 29 Oct 2012 06:00am EDT 

Dow Jones reported that Telefonica Deutschland, the German unit of Spanish Telefonica SA, narrowed on October 29, 2012 the share price range for its initial public offering to between EUR 5.50 and EUR 5.60 (USD 7.11 - USD 7.24). The range had already been narrowed to between EUR 5.50 and EUR 6.00 on October 26, 2012 from an initial EUR 5.25 to EUR6.50. The subscription period will end October 29, 2012 at 13.00 GMT. The first trading day is set for October 30, 2012. Telefonica SA aims to sell up to 23.2% of its German unit.