Hogan Lovells advises Citigroup on share dividend for more than 4.6bn shares of Deutsche Telekom AG
23 June 2016
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.