Compulsory acquisition of 02 shares.

[auditt]

Hi,

I have 220 02 shares, which Telefonica,S.A, is now entitled to under English law to acquire compulsorily all the remaining shares it does not already own.

The offer currently stands at 200 pence per 02 share, at the close of buisness on Friday the shares were 199 1/2p per share.These shares were meant to be a nest egg for me in the future.

I can either allow Telefonica to acquire these shares at the offer they have made, or within 6 weeks lodge an application with the court to stop them, or for a different offer to be made.

Q)Where can I get good cheap legal advice, if I am not successful in the court then I will end up with the legal fees, does anyone know how to lodge a application, and at which court and where will it go from there?Time is running out, as I only have the 14 days from the date of the offer, 22nd Feb 2006 to make up my mind, or make the application to the court.

Come on folks, there must be a little 'Erin Brockovich' in all of us!!!

Thanks in advance.............audiTT.

[dzug]

Don't be a fool. Take the money. Do not waste any money on legal fees. You stand no chance of a higher offer - possibly a smaller one or them refusing to acquire the shares at all. What grounds have you to object? There are many who think Telefonica have paid over the odds.

They will be delisted from the stock exchange on 7 March and become unsaleable.

[Harley]

When Telefonica made a 200p a share offer to buy O2, it was a 22% premium to the share price. Take the money and run. It's already been ratified by the EEC.

[Hammer]

If you still want the investment, why not invest the money back in Telefonica shares?