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Investing

Telefonica Gets Buyout Offer from AT&T

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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