MADRID, Sept 18, 2008 (AFP) - Spanish telecommunications giant Telefonica said Wednesday it has presented an offer to buy the 55.1 percent of the shares it does not already own in Telefonica Chile (CTC).

The company, through its Chilean subsidiary, 'has presented to the Chilean and US stock market authorities the relevant documents for the public offer to acquire all of the shares that it currently does not possess' in CTC, 'which amounts to 55.1 percent of share capital,' it said in a statement.

The offer was valid until October 16, the statement to Spain's stock market authority said.

Telefonica had announced on September 11 that it intended to make the offer within five business days.

It said the price per share would be 900 pesos (1.21 euros) or 1,000 pesos according to the type of shares, for a total possible investment of around 703 million euros (1.007 billion dollars).