Telefónica Local Services GmbH has committed to launch a public delisting acquisition offer to acquire additional 5.88% stake in Telefónica Deutschland Holding AG (XTRA:O2D) for ?410 million on March 7, 2024. The offer per share price is ?2.35. Considering all circumstances, Telefónica Deutschland's Management Board and Supervisory Board have concluded that the signing of the delisting agreement and the delisting are in the company's best interest.

This decision is particularly based on the Management Board?s and the Supervisory Board?s view that the listing has lost its relevance for the Company and, therefore, the delisting is favourable with regards to strategic and financial considerations. Telefónica Local Services GmbH has committed to launch a public delisting acquisition offer to acquire additional 5.88% stake in Telefónica Deutschland Holding AG (XTRA:O2D). As on March 20, 2024, Consequently, the acceptance period for the Delisting Offer commences today and expires on April 18, 2024 (inclusive), unless extended by law.

Telefónica Deutschland Shareholders who have accepted the Offer are entitled to withdrawal rights, as further specified in Section 18 of this Offer Document, solely in the event of an amendment of the Offer pursuant. The Acceptance Period begins upon publication of this Offer Document on March 20, 2024 to April 18, 2024. BaFin has permitted the publication of the Offer Document by the Bidder on March 20, 2024.

The Bidder has appointed BNP Paribas S.A to act as central settlement agent for the Offer. As of March 26, 2024, Management Board and Supervisory Board jointly recommend acceptance of the public delisting acquisition offer. J.P. Morgan SE acted as financial advisor to Telefónica Deutschland.