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Proyecto de Fusión 2013
Proyecto de Fusión 2013
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2008\sl-345\f0\fs18\cf0\b0\i0\ul0\strike0 a\f0\fs18\cf0\b0\i0\ul0\strike0 l\u23
7?neas,\f0\fs18\cf0\b0\i0\ul0\strike0 sat\u233?lites,\f0\fs18\cf0\b0\i0\ul0\str
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0 la\f0\fs18\cf0\b0\i0\ul0\strike0 transferencia\f0\fs18\cf0\b0\i0\ul0\strike0
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17,286,762,034.00
\par\sect\sected\sbkno
ne\cols7\colno1\colw5050\colsr10\colno2\colw1270\colsr10\colno3\colw330\colsr10\
colno4\colw1090\colsr10\colno5\colw1470\colsr10\colno6\colw370\colsr10\colno7\co
lw2260\pard\plain\li1154\sl-278\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b
0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs
14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\pl
ain\li1154\sl-172\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 Acciones
emitida
s
por
\f3\fs14\charscalex89\cf0\b\i0\ul0\strike0 M\u243?viles\f3\fs14\char
scalex89\cf0\b0\i0\ul0\strike0
a
favor
de
\f3\fs14\charscalex89\cf0
\b\i0\ul0\strike0 Telef\u243?nica\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0
\par\pard\plain\li1154\sl-379\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0
\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs1
4\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\pla
in\li1154\sl-172\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 Acciones
emitidas
por
\f3\fs14\charscalex89\cf0\b\i0\ul0\strike0 M\u243?viles\f3\fs14\chars
calex89\cf0\b0\i0\ul0\strike0
a
favor
de
terceros
\par\pard\plai
n\li0\sl-278\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-273
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-278\f3\fs14\cf0\b0\i0\
ul0\strike0
\par\pard\plain\li0\sl-273\f3\fs14\cf0\b0\i0\ul0\strike0
\pa
r\pard\plain\li0\sl-278\column\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\p
ar\pard\plain\li0\sl-273\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\par\par
d\plain\li0\sl-278\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\par\pard\plai
n\li0\sl-273\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\
sl-278\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl-358\par\pard\
plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-257
\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
n/a
\par\par
d\plain\sl-358\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
n/a
\par\pard\plain\li0\sl-278\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\p
ard\plain\li0\sl-273\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-27
8\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-273\f3\fs14\cf0\b0\i0
\ul0\strike0
\par\pard\plain\li0\sl-278\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-172\f3\fs14\charscalex80\cf0\b0\i0\ul0\strike0
17,286,018,798.00
\par\pard\plain\li0\sl-379\f
3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-172\f3\fs14\charscalex43
\cf0\b0\i0\ul0\strike0
743,236.00
\par\sect\secte
d\sbknone\cols9\colno1\colw2410\colsr10\colno2\colw310\colsr10\colno3\colw310\co
lsr10\colno4\colw1990\colsr10\colno5\colw1270\colsr10\colno6\colw330\colsr10\col
no7\colw2570\colsr10\colno8\colw370\colsr10\colno9\colw2260\pard\plain\sl-228\pa
r\pard\plain\li1154\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\pl
ain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\charscalex73
\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-1
93\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pa
rd\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\charscalex88\c
f0\b\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-193\
f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li
0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\par
d\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\co
ls5\colno1\colw5670\colsr10\colno2\colw890\colsr10\colno3\colw2570\colsr10\colno
4\colw350\colsr10\colno5\colw2380\pard\plain\li1154\sl-302\f3\fs14\cf1\b\i0\ul0\
strike0 Determinaci\u243?n
de
la
contribuci\u243?n
de
valor
\p
ar\pard\column\plain\sl-204\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strik
e0
\par\pard\column\plain\sl-204\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\
ul0\strike0
\par\pard\column\plain\sl-204\par\pard\plain\li0\sl-193\f3\fs14\
cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-204\par\pard\plain\li0\sl-19
3\f3\fs14\cf0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols9\colno1\colw24
10\colsr10\colno2\colw310\colsr10\colno3\colw310\colsr10\colno4\colw1990\colsr10
\colno5\colw1270\colsr10\colno6\colw330\colsr10\colno7\colw2570\colsr10\colno8\c
olw370\colsr10\colno9\colw2260\pard\plain\sl-209\par\pard\plain\li1154\sl-193\f3
\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-209\par\pard\plain\li0
\sl-193\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl
-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex73\cf0\b0\i0\ul0\strike0
\p
ar\pard\column\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\stri
ke0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-209\par\pa
rd\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\column\plain\sl-2
09\par\pard\plain\li0\sl-193\f3\fs14\charscalex88\cf0\b\i0\ul0\strike0
\par\
pard\column\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\column\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul
0\strike0
\par\pard\column\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\cf
0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols10\colno1\colw5050\colsr10\
colno2\colw510\colsr10\colno3\colw670\colsr10\colno4\colw310\colsr10\colno5\colw
90\colsr10\colno6\colw250\colsr10\colno7\colw2210\colsr10\colno8\colw90\colsr10\
colno9\colw250\colsr10\colno10\colw2380\pard\plain\li1154\sl-302\f3\fs14\cf0\b0\
i0\ul0\strike0 N\u250?mero
de
acciones
como
m\u250?ltiplo
de
v
alor
\par\pard\plain\li1154\sl-307\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0
N\u250?mero
de
acciones
correspondiente
a
la
participaci\u243
?n
\par\pard\plain\li1154\sl-196\f3\fs14\cf0\b0\i0\ul0\strike0 de
\f3\fs14
\cf0\b\i0\ul0\strike0 Telef\u243?nica\f3\fs14\cf0\b0\i0\ul0\strike0
en
\f
3\fs14\cf0\b\i0\ul0\strike0 M\u243?viles\f3\fs14\cf0\b0\i0\ul0\strike0
\par\
pard\plain\li1154\sl-215\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 Distribuci\u
243?n
de
las
acciones
en
base
al
m\u250?ltiplo
de
\pa
r\pard\plain\li1154\sl-191\f3\fs14\cf0\b0\i0\ul0\strike0 valor
\par\pard\colu
mn\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\
pard\column\plain\sl-200\par\pard\plain\sl-312\par\pard\plain\li0\sl-193\f3\fs14
\cf0\b\i0\ul0\strike0 (b)
\par\pard\plain\sl-219\par\pard\plain\li9\sl-193\f3
\fs14\cf0\b\i0\ul0\strike0 (c)
\par\pard\plain\li0\sl-302\column\f3\fs14\char
scalex41\cf0\b\i0\ul0\strike0 (a)
\par\pard\column\plain\sl-200\par\pard\plai
n\sl-200\par\pard\plain\sl-212\par\pard\plain\li0\sl-193\f3\fs14\charscalex-59\c
f0\b\i0\ul0\strike0
\par\pard\column\plain\sl-209\par\pard\plain\li0\sl-193\
f3\fs14\charscalex34\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-200\par
\pard\plain\sl-200\par\pard\plain\sl-200\par\pard\plain\sl-324\par\pard\plain\li
0\sl-193\f3\fs14\charscalex50\cf0\b0\i0\ul0\strike0
3,347,258,949.00
\par\pard\column\pla
in\sl-200\par\pard\plain\sl-200\par\pard\plain\sl-212\par\pard\plain\li0\sl-193\
f3\fs14\charscalex-59\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl-214\par\pard\
plain\li0\sl-193\f3\fs14\charscalex-59\cf0\b0\i0\ul0\strike0
\par\pard\colum
n\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex43\cf0\b0\i0\ul0\stri
ke0
\par\pard\plain\li105\sl-302\column\f3\fs14\charscalex70\cf0\b0\i0\ul0\s
trike0
2,192,454,612.00
\par\
pard\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex73\cf0\b0\i0\ul0\s
trike0
2,192,360,348.00
\par\
pard\plain\sl-219\par\pard\plain\li0\sl-193\f3\fs14\charscalex42\cf0\b0\i0\ul0\s
trike0
94,264.00
\par\sect\sected\sbk
none\cols10\colno1\colw2730\colsr10\colno2\colw310\colsr10\colno3\colw1990\colsr
10\colno4\colw1170\colsr10\colno5\colw430\colsr10\colno6\colw1630\colsr10\colno7
\colw930\colsr10\colno8\colw370\colsr10\colno9\colw1010\colsr10\colno10\colw1240
\pard\plain\li1154\sl-283\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\u
l0\strike0
\par\pard\plain\li1154\sl-172\f3\fs14\charscalex83
\cf0\b0\i0\ul0\strike0 Contribuci\u243?n
de
valor
\par\pard\plain\sl-32
4\par\pard\plain\li1154\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain
\li2435\sl-0\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\
sl-283\column\f3\fs14\charscalex73\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl200\par\pard\plain\sl-297\par\pard\plain\li0\sl-193\f3\fs14\charscalex73\cf0\b0\
i0\ul0\strike0
\par\pard\plain\li0\sl-283\column\f3\fs14\cf0\b0\i0\ul0\strik
e0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li143\sl-268\f3\fs14\
cf0\b0\i0\ul0\strike0
\par\pard\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs
14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain
\li0\sl-283\column\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\plain\li0\sl-268\f
3\fs14\cf0\b\i0\ul0\strike0
\par\pard\plain\sl-228\par\pard\plain\li0\sl-193
\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\plain\li92\sl-283\column\f3\fs14\cha
rscalex88\cf0\b\i0\ul0\strike0
\par\pard\plain\li0\sl-172\f3\fs14\charscalex
73\cf0\b\i0\ul0\strike0 (d)
\par\pard\plain\sl-324\par\pard\plain\li92\sl-193
\f3\fs14\charscalex88\cf0\b\i0\ul0\strike0
\par\pard\plain\li0\sl-283\column
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl-200\par\pard\plain\sl-297\
par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\pla
in\sl-262\par\pard\plain\li0\sl-193\f3\fs14\charscalex79\cf0\b0\i0\ul0\strike0 9
9.997184%
\par\pard\plain\li0\sl-283\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-268\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl
-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain
\li0\sl-283\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\sl-200\par\
pard\plain\sl-297\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\p
ar\pard\column\plain\sl-262\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\stri
ke0 0.002816%
\par\sect\sected\sbknone\cols1\colno1\colw11900\pard\plain\li11
54\sl-307\f3\fs14\cf1\b\i0\ul0\strike0 Determinaci\u243?n
de
incremento
de
capital
en
Tel\u233?fonica
\par\sect\sected\sbknone\cols9\colno1
\colw2410\colsr10\colno2\colw310\colsr10\colno3\colw310\colsr10\colno4\colw1990\
colsr10\colno5\colw1270\colsr10\colno6\colw330\colsr10\colno7\colw2570\colsr10\c
olno8\colw370\colsr10\colno9\colw2260\pard\plain\sl-305\par\pard\plain\li1154\sl
-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-305\par\pard\pl
ain\li0\sl-193\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\par\pard\column\p
lain\sl-305\par\pard\plain\li0\sl-193\f3\fs14\charscalex73\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-305\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\u
l0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-305
\par\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\column\pla
in\sl-305\par\pard\plain\li0\sl-193\f3\fs14\charscalex88\cf0\b\i0\ul0\strike0
\par\pard\column\plain\sl-305\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\
strike0
\par\pard\column\plain\sl-305\par\pard\plain\li0\sl-193\f3\fs14\cf0\
b0\i0\ul0\strike0
\par\pard\column\plain\sl-305\par\pard\plain\li0\sl-193\f3
\fs14\cf0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols9\colno1\colw5050\c
olsr10\colno2\colw510\colsr10\colno3\colw670\colsr10\colno4\colw310\colsr10\coln
o5\colw2570\colsr10\colno6\colw90\colsr10\colno7\colw250\colsr10\colno8\colw110\
colsr10\colno9\colw2260\pard\plain\li1154\sl-302\f3\fs14\charscalex89\cf0\b0\i0\
ul0\strike0 Acciones
emitidas
a
la
fecha
del
acuerdo
de
fusi\u243?n
\par\pard\plain\li1154\sl-307\f3\fs14\charscalex89\cf0\b0\i0\ul0\
strike0 N\u250?mero
de
acciones
correspondiente
al
nuevo
capit
al
\par\pard\plain\li1154\sl-191\f3\fs14\cf0\b0\i0\ul0\strike0 social
\par
\pard\plain\li1154\sl-316\f3\fs14\cf0\b0\i0\ul0\strike0 Acciones
a
emitirs
e
por
efecto
de
la
fusi\u243?n
\par\pard\column\plain\sl-209\p
ar\pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0
\par\pard\plain\sl-200
\par\pard\plain\sl-200\par\pard\plain\sl-217\par\pard\plain\li0\sl-193\f3\fs14\c
f0\b\i0\ul0\strike0
\par\pard\column\plain\sl-200\par\pard\plain\sl-312\par\
pard\plain\li0\sl-193\f3\fs14\cf0\b\i0\ul0\strike0 (e)
\par\pard\column\plain
\sl-209\par\pard\plain\li75\sl-193\f3\fs14\charscalex22\cf0\b\i0\ul0\strike0
\par\pard\plain\sl-200\par\pard\plain\sl-321\par\pard\plain\li0\sl-193\f3\fs14\
charscalex39\cf0\b\i0\ul0\strike0 (f)
\par\pard\plain\li105\sl-302\column\f3\
fs14\charscalex56\cf0\b0\i0\ul0\strike0
3,347,258,949.00
\par\pard\plain\sl-209\par\pard\
plain\li0\sl-193\f3\fs14\charscalex59\cf0\b0\i0\ul0\strike0
3,347,353,213.00
\par\pard\pl
ain\sl-219\par\pard\plain\li105\sl-193\f3\fs14\charscalex35\cf0\b0\i0\ul0\strike
0
94,264.00
\par\
pard\column\plain\sl-200\par\pard\plain\sl-200\par\pard\plain\sl-208\par\pard\pl
ain\li0\sl-193\f3\fs14\charscalex-59\cf0\b0\i0\ul0\strike0
\par\pard\column\
plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex43\cf0\b0\i0\ul0\strike
0
\par\pard\plain\sl-200\par\pard\plain\sl-200\par\pard\plain\sl-217\par\par
d\plain\li0\sl-193\f3\fs14\charscalex43\cf0\b0\i0\ul0\strike0
\par\pard\colu
mn\plain\sl-200\par\pard\plain\sl-200\par\pard\plain\sl-208\par\pard\plain\li0\s
l-193\f3\fs14\charscalex-59\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl209\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\
sl-200\par\pard\plain\sl-200\par\pard\plain\sl-217\par\pard\plain\li0\sl-193\f3\
fs14\cf0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols9\colno1\colw2410\co
lsr10\colno2\colw310\colsr10\colno3\colw310\colsr10\colno4\colw1990\colsr10\coln
o5\colw1270\colsr10\colno6\colw330\colsr10\colno7\colw2570\colsr10\colno8\colw37
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a
\f3\fs14\cf0\b\i0\ul0\strike0 Telef\u2
43?nica\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-358\par\pard
\plain\li0\sl-193\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 94,264
\f3\f
s14\charscalex84\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-278\c
olumn\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-278\
column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li0\sl-172\f3\fs14\char
scalex39\cf0\b0\i0\ul0\strike0
743,2
36.00
\par\pard\plain\li0\sl-278\column\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\plain\li28\sl-172\f3\fs14\charscalex48\cf0\b\i0\ul0\strike0 (k)
\p
ar\pard\plain\li0\sl-278\column\f3\fs14\charscalex-71\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-257\par\pard\plain\li0\sl-193\f3\fs14\charscalex52\cf0
\b0\i0\ul0\strike0
0.1268291633
\par\sect\sected\sbknone\cols9\colno1\colw2410\co
lsr10\colno2\colw310\colsr10\colno3\colw310\colsr10\colno4\colw1990\colsr10\coln
o5\colw1270\colsr10\colno6\colw330\colsr10\colno7\colw2570\colsr10\colno8\colw37
0\colsr10\colno9\colw2260\pard\plain\sl-228\par\pard\plain\li1154\sl-193\f3\fs14
\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-1
93\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\
par\pard\plain\li0\sl-193\f3\fs14\charscalex73\cf0\b0\i0\ul0\strike0
\par\pa
rd\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\pl
ain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\p
ar\pard\plain\li0\sl-193\f3\fs14\charscalex88\cf0\b0\i0\ul0\strike0
\par\par
d\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\
strike0
\par\pard\column\plain\sl-228\par\pard\plain\li0\sl-193\f3\fs14\cf0\
b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols1\colno1\colw11900\pard\plain
\li1154\sl-302\f3\fs14\cf3\b\i0\ul0\strike0 Notas
\par\sect\sected\sbknone\co
ls2\colno1\colw2410\colsr10\colno2\colw9480\pard\plain\li1637\sl-297\f3\fs14\cf0
\b0\i0\ul0\strike0 (a)
\par\pard\plain\sl-200\par\pard\plain\sl-249\par\pard\
plain\li1634\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 (b)
\par\pard\plain\sl-200\
par\pard\plain\sl-249\par\pard\plain\li1642\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
(c)
\par\pard\plain\sl-200\par\pard\plain\sl-244\par\pard\plain\li1634\s
l-193\f3\fs14\cf0\b0\i0\ul0\strike0 (d)
\par\pard\plain\sl-209\par\pard\plain
\li1636\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 (e)
\par\pard\plain\sl-209\par\p
ard\plain\li1651\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 (f)
\par\pard\plain\sl200\par\pard\plain\sl-249\par\pard\plain\li1638\sl-193\f3\fs14\cf0\b0\i0\ul0\str
ike0 (g)
\par\pard\plain\sl-200\par\pard\plain\sl-244\par\pard\plain\li1634\s
l-193\f3\fs14\cf0\b0\i0\ul0\strike0 (h)
\par\pard\plain\sl-200\par\pard\plain
\sl-249\par\pard\plain\li1657\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 (i)
\par\p
ard\plain\sl-209\par\pard\plain\li1656\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 (j)
\par\pard\plain\sl-200\par\pard\plain\sl-249\par\pard\plain\li1639\sl-193\f3\
fs14\cf0\b0\i0\ul0\strike0 (k)
\par\pard\plain\li0\sl-297\column\f3\fs14\char
scalex89\cf0\b0\i0\ul0\strike0 Es
el
resultado
de
multiplicar
el
n\u250?mero
de
acciones
representativa
del
capital
social
de
Telef\u243?nica
entre
el
m\u250?ltiplo
de
valor
de
M\u243?viles
\par\pard\plain\li0\sl-196\f3\fs14\cf0\b0\i0\ul0\strike0 versus
Telef\u243?nica.
\par\pard\plain\sl-252\par\pard\plain\li0\sl-193\f3\fs14\
charscalex89\cf0\b0\i0\ul0\strike0 Es
\f3\fs14\charscalex89\cf0\b0\i0\ul0\str
ike0 el
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 resultado
\f3\fs14\c
harscalex89\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex89\cf0\b0\i0\ul0\str
ike0 multiplicar
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 el
\f3\fs14
\charscalex89\cf0\b0\i0\ul0\strike0 monto
\f3\fs14\charscalex89\cf0\b0\i0\ul
0\strike0 obtenido
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 en
\f3\fs
14\charscalex89\cf0\b0\i0\ul0\strike0 (a)
\f3\fs14\charscalex89\cf0\b0\i0\ul
0\strike0 por
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 la
\f3\fs14\ch
arscalex89\cf0\b0\i0\ul0\strike0 participaci\u243?n
\f3\fs14\charscalex89\cf
0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 Telef\u2
43?nica
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 en
\f3\fs14\charscale
x89\cf0\b0\i0\ul0\strike0 el
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 ca
pital
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0 social
\f3\fs14\charsca
lex89\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike0
M\u243?viles
\par\pard\plain\li0\sl-196\f3\fs14\cf0\b0\i0\ul0\strike0 (2,192,
454,612.00
\u215?
[17,286,018,798.00
\u247?
17,286,762,034.00]).
\par\pard\plain\sl-252\par\pard\plain\li0\sl-193\f3\fs14\charscalex86\cf0\b0\i0\
ul0\strike0 En
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 el
\f3\fs14\ch
arscalex86\cf0\b0\i0\ul0\strike0 caso
\f3\fs14\charscalex86\cf0\b0\i0\ul0\st
rike0 de
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 Telef\u243?nica
\f3
\fs14\charscalex86\cf0\b0\i0\ul0\strike0 corresponde
\f3\fs14\charscalex86\c
f0\b0\i0\ul0\strike0 al
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 100%
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex86\cf0\b0
\i0\ul0\strike0 las
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 acciones
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 representativas
\f3\fs14\charsc
alex86\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0
su
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 capital
\f3\fs14\charscal
ex86\cf0\b0\i0\ul0\strike0 social.
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strik
e0 Trat\u225?ndose
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 de
\f3\fs
14\charscalex86\cf0\b0\i0\ul0\strike0 M\u243?viles
\f3\fs14\charscalex86\cf0
\b0\i0\ul0\strike0 el
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 importe
\par\pard\plain\li0\sl-191\f3\fs14\cf0\b0\i0\ul0\strike0 resultante
de
r
estar
el
monto
obtenido
en
(a)
menos
el
resultante
en
(b)
[2,192,454,612.00
-\u173?\u8208?
2,192,360,348.00].
\par\par
d\plain\sl-252\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 Es
el
importe
resultante
de
relacionar
cada
uno
de
los
impo
rtes
obtenidos
en
(c).
\par\pard\plain\sl-209\par\pard\plain\li0\sl193\f3\fs14\cf0\b0\i0\ul0\strike0 Es
la
suma
de
los
importes
obtenidos
en
(c)
[3,347,258,949.00
+
94,264.00].
\par\pard\
plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex89\cf0\b0\i0\ul0\strike
0 Es
el
resultado
de
restar
el
importe
obtenido
en
(e
)
menos
el
capital
social
actual
de
Telef\u243?nica
(3,3
47,353,213.00
-\u173?\u8208?
3,347,258,949.00).
\par\pard\plain\sl-200\
par\pard\plain\sl-249\par\pard\plain\li0\sl-193\f3\fs14\charscalex88\cf0\b0\i0\u
l0\strike0 Es
el
importe
resultante
de
multiplicar
el
impor
te
obtenidos
en
(f)
por
el
valor
nominal
de
las
ac
ciones
de
Telef\u243?nica
(94,264.00
\u215?
.86).
\par\pard\pl
ain\sl-200\par\pard\plain\sl-244\par\pard\plain\li0\sl-193\f3\fs14\charscalex86\
cf0\b0\i0\ul0\strike0 Corresponde
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0
al
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 100%
\f3\fs14\charscalex
86\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 las
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 acciones
\f3\fs14\charscalex
86\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 M\u
243?viles
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 emitidas
\f3\fs14\c
harscalex86\cf0\b0\i0\ul0\strike0 a
\f3\fs14\charscalex86\cf0\b0\i0\ul0\stri
ke0 favor
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charsc
alex86\cf0\b0\i0\ul0\strike0 terceros
\f3\fs14\charscalex86\cf0\b0\i0\ul0\st
rike0 distintos
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 a
\f3\fs14\c
harscalex86\cf0\b0\i0\ul0\strike0 Telef\u243?nica
\f3\fs14\charscalex86\cf0\
b0\i0\ul0\strike0 multiplicado
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0
por
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 el
\f3\fs14\charscalex86\
cf0\b0\i0\ul0\strike0 valor
\f3\fs14\charscalex86\cf0\b0\i0\ul0\strike0 val
or
\par\pard\plain\li0\sl-196\f3\fs14\cf0\b0\i0\ul0\strike0 nominal
de
las
mismas
(743,236.00
\u215?
.01).
\par\pard\plain\sl-252\par\pa
rd\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0 Es
el
importe
resulta
nte
de
restar
el
monto
obtenido
en
(g)
menos
el
re
sultante
en
(h)
[81,067.04
-\u173?\u8208?
7,432.36].
\par\pard
\plain\sl-209\par\pard\plain\li0\sl-193\f3\fs14\charscalex84\cf0\b0\i0\ul0\strik
e0 Conforme
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 se
\f3\fs14\chars
calex84\cf0\b0\i0\ul0\strike0 establece
\f3\fs14\charscalex84\cf0\b0\i0\ul0\
strike0 en
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 el
\f3\fs14\chars
calex84\cf0\b0\i0\ul0\strike0 Proyecto
\f3\fs14\charscalex84\cf0\b0\i0\ul0\s
trike0 de
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 Fusi\u243?n,
\f3\f
s14\charscalex84\cf0\b0\i0\ul0\strike0 los
\f3\fs14\charscalex84\cf0\b0\i0\u
l0\strike0 accionistas
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 de
\f
3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 Telef\u243?nica
\f3\fs14\charscale
x84\cf0\b0\i0\ul0\strike0 conservar\u225?n
\f3\fs14\charscalex84\cf0\b0\i0\u
l0\strike0 el
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 100%
\f3\fs14\
charscalex84\cf0\b0\i0\ul0\strike0 de
\f3\fs14\charscalex84\cf0\b0\i0\ul0\st
rike0 sus
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 acciones.
\f3\fs14
\charscalex84\cf0\b0\i0\ul0\strike0 Por
\f3\fs14\charscalex84\cf0\b0\i0\ul0\
strike0 lo
\f3\fs14\charscalex84\cf0\b0\i0\ul0\strike0 que,
\f3\fs14\cha
rscalex84\cf0\b0\i0\ul0\strike0 no
\par\pard\plain\li0\sl-196\f3\fs14\cf0\b0
\i0\ul0\strike0 corresponde
determinar
un
factor
de
canje
para
estos.
\par\pard\plain\sl-252\par\pard\plain\li0\sl-193\f3\fs14\charscale
x86\cf0\b0\i0\ul0\strike0 Es
el
resultado
de
dividir
el
n\u250
?mero
de
acciones
a
emitirse
por
efecto
de
la
fusi\u2
43?n
entre
el
100%
de
las
acciones
de
M\u243?viles
em
itidas
a
\par\pard\plain\li0\sl-191\f3\fs14\cf0\b0\i0\ul0\strike0 favor
de
terceros
distintos
a
Telef\u243?nica
(94,264.00
\u247?
743,236.00).
\par\sect\sected\sbknone\cols9\colno1\colw2410\colsr10\colno2\co
lw310\colsr10\colno3\colw310\colsr10\colno4\colw1990\colsr10\colno5\colw1270\col
sr10\colno6\colw330\colsr10\colno7\colw2570\colsr10\colno8\colw370\colsr10\colno
9\colw2260\pard\plain\sl-200\par\pard\plain\sl-254\par\pard\plain\li1154\sl-193\
f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-200\par\pard\plain\s
l-254\par\pard\plain\li0\sl-193\f3\fs14\charscalex75\cf0\b0\i0\ul0\strike0
\
par\pard\column\plain\sl-200\par\pard\plain\sl-254\par\pard\plain\li0\sl-193\f3\
fs14\charscalex73\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-200\par\pa
rd\plain\sl-254\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\f3\
fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-200\par\pard\plain\sl254\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column
\plain\sl-200\par\pard\plain\sl-254\par\pard\plain\li0\sl-193\f3\fs14\charscalex
88\cf0\b0\i0\ul0\strike0
\par\pard\column\plain\sl-200\par\pard\plain\sl-254
\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\pard\column\pl
ain\sl-200\par\pard\plain\sl-254\par\pard\plain\li0\sl-193\f3\fs14\cf0\b0\i0\ul0
\strike0
\par\pard\column\plain\sl-200\par\pard\plain\sl-254\par\pard\plain\
li0\sl-193\f3\fs14\cf0\b0\i0\ul0\strike0
\par\sect\sected\sbknone\cols2\coln
o1\colw7410\colsr10\colno2\colw4480\pard\plain\li1082\sl-12\f3\fs0\cf0\b0\i0\ul0
\strike0
\par\pard\plain\li0\sl-201\column\f3\fs14\cf0\b0\i0\ul0\strike0
{\shp{\*\shpinst\shpleft6617\shptop2014\shpright6626\shpbottom2023
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{\sp{\sn fFillOK}{\sv 1}}
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{\sp{\sn fillColor}{\sv 47741}}
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{\shp{\*\shpinst\shpleft6617\shptop2014\shpright6626\shpbottom2023
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{\sp{\sn posrelv}{\sv 1}}
{\sp{\sn shapePath}{\sv 4}}
{\sp{\sn pVerticies}{\sv 8;5;(0,0);(10,0);(10,10);(0,10);(0,0)}}
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{\sp{\sn fFillOK}{\sv 1}}
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{\shp{\*\shpinst\shpleft6626\shptop2018\shpright9189\shpbottom2018
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