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Spain: Telefónica closes €706.8 million Canal+ Spain acquisition

By  |  May 3, 2015

According to local reports, Telefónica has closed its agreement with Grupo Prisa for a 56 percent interest in pay-TV platform Canal+ Spain, worth 707 million euros.

The deal comes a week after Spain’s National Commission of Markets and Competition approved Telefónica’s acquisition of Canal+ with some conditions.

The transaction’s final cost “will be adjusted” based on the value ultimately placed on Mediapro’ Digital+, following a ruling clearing the rights for the TV broadcast of soccer matches, along with the revision of the adjustments referred to in the contract.

“With the sale of DTS completed, Prisa will focus on the education and information business, with a special emphasis on growth in Latin America, as well as a continuation of its policy to reduce debt and strengthen its balance sheet,” the company said in a statement.

 

Full content: World Screen

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