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Germany: Telefonica to sell German O2 shares at lower price

By  |  October 29, 2012

Four sources have said that Telefonica SA plans to sell shares of its Germany-based O2 at the lower-end of price share estimates it had originally offered. Telefonica had initially offered to sell shares between 5.50 and 5.60 euros each, initially suggesting between 5.25 and 6.50 euros each. Telefonica is Europe’s largest telecommunications company by revenue. If Telefonica had decided to sell shares at the top of their initially-proposed range, the company would have made the largest European initial public offering since July 2011, raising 1.45 billion euros.

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