Spanish operator Telefónica has increased its ownership in Telefónica Deutschland from 71.81% to 93.10%, for a total consideration of EUR 1.48 billion (US$1.61 billion).

By acquiring an additional 21.29% of shares for EUR 1.48 billion (US$1.61 billion), Telefónica's ownership increased to a commanding 93.1%. This move strengthens Telefónica's presence in the crucial German market and streamlines its European operations. Shareholders holding 7.86% of Telefónica Deutschland's shares accepted the offer. Telefónica acquired an additional 13.43% of the share capital and voting rights through various instruments, including settling financial instruments that gave it the right to acquire approximately 1.32% of Telefónica Deutschland's share capital. With a majority stake, Telefónica has greater control over Telefónica Deutschland's strategic direction and can make decisions more efficiently.