Italy/Spain: Mediaset may challenge Telefonica to $1B bidding war

Telefonica has offered to acquire Spain-based pay-TV firm Prisa, but Italy’s Mediaset is reportedly ready to match Telefonica’s $1 billion offer – or even surpass it.

According to reports, the Italian firm controlled by former Italy Prime Minister Silvio Berlusconi already owns a 22 percent stake in pay-TV competitor DTS through its Spanish unit, but according to a source Mediaset could be setting itself up for a bidding war with Telefonica if it wishes to pursue Prisa. According to one expert, Mediaset needs to strengthen its position in Spain and therefore would likely raise Telefonica’s $1 billion buyout bid.

Full content: Bloomberg

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