Tender Public Offer Sogecable

Telefonica SA
09 May 2008


As provided in article 82 of the Spanish Stock Market Act (Ley del Mercado de
Valores), TELEFONICA, S.A. hereby reports the following


SIGNIFICANT EVENT


Regarding the public tender offer launched by PROMOTORA DE INFORMACIONES, S.A.
('PRISA') over the share capital of SOGECABLE, S.A., the Company has agreed,
after studying the conditions, to participate in said offer with all the shares
it owns, which represent 16.79% of the share capital of said company.



Madrid, May 9th ,2008






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