Telefónica seeks to acquire the 28% of German arm it doesn’t already own

Spanish operator group Telefónica has offered to buy every last share in Telefónica Deutschland that it doesn’t already own.
That amounts to 28.19% of the shares, for which it is offering a premium of around 37% on the current share price. Obviously, Telefónica is hoping that will be a sufficient inducement for them to cash in but, for that to be the case, they would have to conclude there is little hope of the company organically growing its value by more than that in