Telefonica Gets Buyout Offer from AT&T

Cell Tower detail
Cell Tower detail

According to El Mundo, AT&T Inc. (NYSE: T) made an offer for Spanish telecom Telefonica S.A. (NYSE: TEF).

According to a version of the article by translated by Google:

Telefonica shares have started the session with gains over 3% in the heat of the information on the interest of AT & T to launch an Initial Public Offering (IPO) on the Spanish.

As reported in its edition WORLDWIDE on Monday, the government stopped the operation considering that the company is "strategic". The decision was taken by the Prime Minister, Mariano Rajoy, along with three of his ministers.

The tender offer was supposed to pay 70,000 million euros and take another 52,000 in debt.

Just the news, Telefonica has said that he has received offers "whether written or verbal" of anyone.

Meanwhile, Industry Minister Jose Manuel Soria, who in February was held in Barcelona at the last Mobile World Congress with the president of the U.S. company, has admitted the interest of AT & T in Europe, but did not know if I was interested Telefónica particular.

Filed under: 24/7 Wall St. Wire, Mergers and Buy Outs Tagged: featured, T, TEF