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Hogan Lovells advises Citigroup on share dividend for more than 4.6bn shares of Deutsche Telekom AG

23 June 2016

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Peter Herkenhoff

Corporate Communications Manager Germany
Dusseldorf
+49 211 13 68 469

For the fourth consecutive year since 2013, Hogan Lovells has advised Citigroup in connection with a share dividend and subscription rights issue by Deutsche Telekom AG.

In 2016, the option of receiving the dividend in the form of shares proved again very popular among the shareholders of Deutsche Telekom AG. The acceptance rate amounted to 40.9 percent.  With a subscription ratio of 26.7:1, this resulted in the issuance of more than 70 million new shares and an increase of Deutsche Telekom's issued capital by 1.5 percent. The new shares have already been admitted to trading. 

Citigroup acted as subscription and settlement agent. Hogan Lovells advised Citigroup on all issues concerning the structuring and execution of the transaction.

Hogan Lovells for Citigroup

Prof. Dr. Michael Schlitt (Partner, in lead), Nona Naydenova (Projects Associate), Christian Schröder (all Corporate/Capital Markets, Frankfurt);

John Basnage (Partner, US law, London).

The team

 
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