Telefonica Acquires 51% of Publiguias

Wednesday, November 15, 2000

Telefonica Publicidad e Informacion (TPI), the publicity subsidiary of Spain's #Telefonica# (NYSE: TEF), yesterday closed the acquisition of Chilean telephone guide publisher Publiguias for US$43.3mn, Telefonica said in a statement.

The rest of the company remains in the hands of Chilean publishing house Cochrane (20.4%), Carvajal Group (19.6%) and Telefonica #CTC# Chile (NYSE: CTC) (9%). Publiguias has a 90% share of the telephone guidebook market in Chile.

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