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Spain: Telefonica offers $1B to grow even larger

 |  May 7, 2014

Spain’s largest telecommunications firm Telefonica has reportedly offered to spend $1 billion to acquire a majority stake in pay-television provider Digital Plus.

The industry giant announced late Tuesday that it submitted a bid for the acquisition, which would boost its stake in the firm from 22 percent to 78 percent.

Reports say the shares would be bought from media firm Prisa.

It’s an acquisition that would expand Telefonica’s ability to offer bundled communications packaging that include cable, broadband and telephone services in the nation.

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