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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21232)	8/3/2000 11:45:01 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Telefonica Carries Out Capital Increase to Acquire Content Producer Endemol PR Newswire - August 02, 2000 12:23 Jump to first matched term * A total of 213,409,097 new shares of Telefonica, S.A. were issued, to be given to stockholders of Endemol Entertainment N.V. who have decided to exchange their shares * With the transaction concluded, Telefonica now holds 99.2% of Endemol MADRID, Spain, Aug. 2 /PRNewswire/ -- Telefonica, S.A. (NYSE: TEF) today executed the capital increase for the acquisition of the independent television producer Endemol Entertainment Holding N.V., through a public share exchange offer. With the transaction concluded, a total of 213, 409,097 new shares of Telefonica, S.A. have been issued. These shares will be turned over to stockholders of Endemol who have accepted the offer to exchange their shares. As a result of the transaction, Telefonica now holds 99.2% of the share capital of Endemol, one of the world's leading television producers and the creator of popular program formats such as "Big Brother." Endemol will become one of the principal providers of content for Telefonica, supplying television and Internet productions for the Group's different platforms: television (Telefonica Media); Internet (Terra) and third-generation mobile telephony (Telefonica Moviles), as well call centers and future broad-band initiatives. Telefonica, S.A. will immediately begin the procedures for the new shares to begin trading in all the stock exchanges where the company's shares are already quoted. SOURCE Telefonica, S.A. /CONTACT: Direccion de Comunicacion of Telefonica, S.A., +34-91-584-08-44, or fax, +34-91-532-71-18, or prensa@telefonica.es/ (TEF)