TELEFÓNICA S.A., (TELEFÓNICA) pursuant to article 228 of the Spanish Securities Market Act (Ley del Mercado de Valores), hereby reports the following
In relation to recent media reports regarding Telefónica's United Kingdom subsidiary (O2 UK), TELEFÓNICA announces that it is considering various strategic options with respect to the above-mentioned subsidiary (all of which would involve Telefónica maintaining a majority shareholding), including, among others, a potential Initial Public Offering. Preparatory work in connection with such strategic options has been initiated.
Madrid, September 5, 2016.
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