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An announcement from Telefonica ( (TEF) ) is now available.
On 12 January 2026, Telefónica Europe B.V., irrevocably guaranteed by Telefónica, S.A., launched cash tender offers for three outstanding euro-denominated undated deeply subordinated hybrid note series maturing around first call dates in 2026, 2027 and 2028, with an aggregate principal amount of EUR 2.25 billion. The offers, which run until 17:00 CET on 19 January 2026, are designed to proactively manage Telefónica’s hybrid capital layer and allow investors to switch into newly issued hybrid securities with 5.25-year and 8.25-year non-call periods, with pricing terms that include fixed purchase prices for the 2026 and 2027 notes and a market-based fixed-spread mechanism for the 2028 notes; repurchased notes may be cancelled, and if at least 75% of any series is bought back and cancelled, Telefónica may exercise its call right to redeem the remaining notes at par plus accrued interest, underlining an active liability-management strategy that could optimize its cost of capital and capital structure over time.
The most recent analyst rating on (TEF) stock is a Sell with a $3.40 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
Spark’s Take on TEF Stock
According to Spark, TipRanks’ AI Analyst, TEF is a Neutral.
Telefonica’s overall stock score is primarily impacted by its financial performance challenges, including declining revenue and profitability. The technical analysis indicates bearish momentum, further weighing down the score. While the high dividend yield offers some appeal, the negative P/E ratio reflects underlying financial difficulties.
To see Spark’s full report on TEF stock, click here.
More about Telefonica
Telefónica, S.A. is a Spain-based multinational telecommunications group that provides fixed and mobile telephony, broadband, pay-TV and digital services, primarily in Europe and Latin America. Through operating subsidiaries and financing vehicles such as Telefónica Europe B.V. and Telefónica Emisiones, S.A.U., the company actively manages a large, diversified capital structure to support its network investments and strategic positioning in the European telecoms and hybrid capital markets.
Average Trading Volume: 1,213,844
Technical Sentiment Signal: Sell
Current Market Cap: $22.49B
For detailed information about TEF stock, go to TipRanks’ Stock Analysis page.