Telefónica extends offer to buy out minority shareholders in Peru

Telefónica extends offer to buy out minority shareholders in Peru

Equity Corporate & Sovereign Strategy Capital Markets Telecoms Peru Andean Europe

Latin American Cellular Holding, a division of Spain's Telefónica, has made an offer to buy out minority shareholders in the telecommunications company's subsidiary in Peru, according to a securities filing. Telefónica could buy 36 million Class B shares for PEN2.08 ($0.60) per share through April 23, making the deal worth PEN74.9 million if all shareholders decide to sell. Latin American Cellular increased its stake in Telefónica Perú to 98.9% from 48.4% on March 30, buying 1.67 billion Class B

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