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Telefónica, S.A Message Board

  • jackmaster20 jackmaster20 Jun 17, 2013 10:56 AM Flag

    AT&T vetoed initial bid for TEF

    What is the likelihood that AT&T can resubmit a bid for TEF ...........that will be approved by the Spain government ?

    The Spanish government must understand that the EU telco market is blending into one big entity and that
    one governmental body can not unilateral make decisions, independent of market forces.

    Does the Spanish government have an actual financial stake in TEF where a sweetened offer price
    would benefit the government ?

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    • I think AT&T would probably spin off the Spanish division as soon as they got completed the deal

      • 1 Reply to madcoweater1
      • Given the recent legislative improvements in the EU telco market
        and how negative, in general, investors are on anything EU, I think
        the Spanish sector of TEF could generate more alpha than the
        Latin America assets, over the next 2 to 5 years.......

        But will the Spain PM allow AT&T to pay $ 20 per share to TEF
        investors....a 43 % premium, at current market prices, for their
        current TEF stock ?

        If yes, then both investors and AT&T could profit from a better
        telco environment in the EU and S America.....but European
        governments have a poor record at making pro-growth decisions.
        Just ask the 27 % of Spaniards who are unemployed !

 
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