Telefonica announced on Thursday its intention to file a squeeze-out proposal for its German subsidiary Telefonica Deutschland, currently listed on the Frankfurt Stock Exchange.

The decision comes after the Spanish telecom group completed its takeover bid for the minority shareholders, raising its stake to over 94.3%.

At the time of the bid's launch in early December 2023, the telecom operator controlled around 71.8% of the company.

In a financial notice, Telefonica indicates that the squeeze-out procedure should be implemented at the end of March or beginning of April, to close at the end of April or beginning of May.

The operation aims to simplify its corporate structure, but also to enable an increase in Telefonica Deutschland's contribution to the consolidated accounts and free cash flow for shareholders.

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