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Telefonica offers Mediaset EUR 295 mln for Digital+ stake
2014-06-18 10:09:00| Telecompaper Headlines
(Telecompaper) Telefonica has offered EUR 295 million to Italian broadcaster Mediaset for its 22 percent stake in Spanish pay-TV platform Digital+. In a statement to Spain's market regulator CNMV, Telefonica said the binding offer may increase by a further EUR 10 million if it completes the purchase of 56 percent of Digital+ from Prisa, and by as much as EUR 20 million more depending on gains in pay-TV customers over the next 4 years. If Mediaset accepts Telefonica's offer, it will also waive a preferential right to acquire Prisa's stake in Digital+, for which Telefonica will pay Mediaset an additional EUR 30 million. Earlier this month Telefonica said it had closed the purchase of the 56 percent stake in Digital+ owned by Prisa for EUR 750 million to raise its stake in the broadcaster to 78 percent, a deal which is still subject to regulatory approval. Buying Mediaset's stake would give it full control of Digital + and greater flexibility in integrating TV content into its Movistar Fusion convergent packages. The acquisition of Digital+ brings with it a large customer base in the form of the 1.6 million subscribers to pay-TV channel Canal+ and gives Telefonica access to Prisa's TV catalogue, including its rights to live Spanish football games.
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Category:Telecommunications