Telefónica Deutschland Holding AG

  • WKN: A1J5RX
  • ISIN: DE000A1J5RX9
  • Land: Deutschland

Nachricht vom 29.10.2020 | 07:18

Telefónica Deutschland Holding AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

Telefónica Deutschland Holding AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
29.10.2020 / 07:18
Dissemination of a Related Party Transactions announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Munich, 29 October 2020

Telefónica Deutschland collaborates with Telefónica Infra, S.L.U. and Allianz Group to form fibre joint venture

On 29 October 2020, Telefónica Deutschland (specifically Telefónica Germany 1. Beteiligungsgesellschaft mbH) agreed with Telefónica Infra, S.L.U. and Allianz Group on the formation of a joint venture to deploy fibre to the home (FTTH) in Germany. Following the closing of the transaction which is expected to occur in the first half of 2021, Telefónica Group and Allianz Group will initially each hold 50% in the joint venture company. Operating as a neutral wholesale company which will trade under the name Unsere Grüne Glasfaser GmbH & Co. KG, it is set to deploy local fibre optic networks in underserved rural areas and to offer FTTH wholesale access to interested telecommunications service providers. The company will benefit from Telefónica Deutschland's existing telecommunication infrastructure, Telefónica Infra, S.L.U.'s FTTH infrastructure expertise and Allianz Group's investment strength.

Telefónica, S.A. indirectly holds 69.2% in Telefónica Deutschland Holding AG and 100% in Telefónica Infra, S.L.U. Telefónica Deutschland Holding AG is operating in Germany through Telefónica Germany GmbH & Co. OHG and its further operational subsidiaries.

Under the terms of the joint venture documentation, Telefónica Deutschland will invest up to EUR 100 million over a period of 6 years for a 10% stake in the joint venture company which will enter into several operational agreements with Telefónica Germany GmbH & Co. OHG.

Telefónica Deutschland's 10% investment is made at the same terms and on the same valuation as applicable to Telefónica Infra, S.L.U.'s 40% investment and Allianz Group's 50% investment. The combined investment of the joint venture partners will be up to EUR 1 billion. In addition, the joint venture can draw on a subordinated loan from Allianz Group in the total amount of up to EUR 500 million and is expected to raise additional non-recourse financing from banks. Representing Allianz Group, Allianz Capital Partners will invest 50% in the joint venture on behalf of Allianz insurance companies ("Allianz") and the Allianz European Infrastructure Fund.

Telefónica Germany GmbH & Co. OHG will provide transport services to the joint venture for data traffic from the local fibre optic networks via the existing transport network of Telefónica Deutschland. This enables the joint venture's wholesale of FTTH products to telecommunication service companies, who market these as broadband services to their respective end customers. The transport service agreement has an initial term of 15 years, the service fee payable to Telefónica Deutschland is volume based and at market rates. The service fee over the initial term is expected to total a low three-digit million amount depending on the progress of the roll out.

The wholesale company will sell specific FTTH connection products to Telefónica Deutschland, who will market these as broadband services to its respective end customers. The wholesale agreement has an initial term of 12 years. The total consideration payable by Telefónica Deutschland over the initial period will depend on various factors, in particular on the actual service take-up rate, and is based on metrics in-line with market standards. There are no volume commitments.

The transaction is subject to the approval of the competent merger control authorities, specifically the EU-Commission.

Further information:

Telefónica Deutschland
Investor Relations
Georg-Brauchle-Ring 50
D-80992 München
t +49 (0)89 2442-1010
f +49 (0)89 2442-2000
e ir-deutschland@telefonica.com



29.10.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Anleihe im Fokus

Zeichnung der neuen Anleihe 2021/2026 über die Börse gestartet

Letzte Zeichnungsmöglichkeit läuft vorbehaltlich vorzeitiger Schließung bis zum 30. Juni, 14 Uhr

Neue Anleihe bietet festen, jährlichen Zinssatz von 5,75 % über fünfjährige Laufzeit


ISIN: DE000A3E5TK5
Kupon: 5,75 %
Laufzeit: 5 Jahre
Nennbetrag: 1.000 Euro
Börse: Frankfurt

Event im Fokus

Termine 2021

10. Juni 2021:Fachkonferenz Immobilien

14./15. Juli 2021: Fachkonferenzen Beteiligungsgesellschaften & Consumer/Leisure

13./14. Oktober 2021: Fachkonferenzen Finanzdienstleistungen/Technologie

10./11. November 2021: Fachkonferenzen Software/IT & Branchenmix

„Je nach aktueller Covid-19 Situation und den bestehenden Vorschriften für Versammlungen entscheidet sich ca. 5 Wochen vor dem Termin, in welcher Form die Konferenzen stattfinden.“

GBC-Fokusbox

Kaufen: Vectron Systems AG legt verstärkt Fokus auf Digitalgeschäft

Nachdem die Vectron Systems AG bislang insbesondere Kassensysteme verkauft hat, wird nun das Digitalgeschäft stärker in den Fokus rücken. Damit sollen die wiederkehrenden Einnahmen und die Wertschöpfung je Kunde deutlich erhöht werden. Über Cloud-Module können die Kunden nun mehrere digitale Services, die sie sonst über viele Einzelverträge abdecken, direkt mit dem Erwerb der Vectron-Kassen über den Fachhandel dazubuchen. Wir haben die Vectron Systems AG im Rahmen eines DCF-Modells bewertet und ein Kursziel in Höhe von 21,15 € ermittelt und vergeben das Rating KAUFEN.

News im Fokus

Deutsche Wohnen SE: Mitteilung an die Gläubiger der Deutsche Wohnen SE Wandelschuldverschreibung über 800 Mio. EUR, fällig am 26. Juli 2024 (ISIN DE000A2BPB84)

23. Juni 2021, 16:40

Aktuelle Research-Studie

CR Capital AG

Original-Research: CR Capital AG (von GBC AG): Kaufen

24. Juni 2021