BRIEF-Telefonica rights issue subscription period March 28 to April 12
March 26 (Reuters) - Telefonica
* Telefonica says rights issue subscription period March 28 to April 12
* Says new shares to start trade April 22
* Says expects GVT deal to close in second quarter
* Says expects O2 sale to close by June 30 2016 Further company coverage: (Reporting By Elisabeth O'Leary, Editing by Sonya Dowsett)
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