Banco Bilbao Vizcaya - Re Joint Development
05 Enero 2000 - 9:17AM
UK Regulatory
RNS Number:2837D
Banco Bilbao Vizcaya S.A.
5 January 2000
The companies BBVA and TERRA have agreed to colaborate in the joined development
of new services and applications of Internet, which contretes in the entrance of
TERRA, with a 20% - which will be increased up to a 35%, according to the
current relations in the capital of Banco Uno-e until the pertaining date in the
100% to the Grupo BBVA. All, subject to the correspondent authorizations.
Furthermore, TELEFONICA, S.A and BBVA have convened the acquisition, from BBVA
to TELEFONICA, S.A, of the 3% of the capital of TERRA. This investment, carried
out through an application in the Stock Exchange market, is of an amount of
81,550 millions of pesetas and makes that BBVA is a stable shareholder of TERRA.
END
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