Media group Prisa has reportedly accepted Telefonica’s bid to acquire Prisa’s 56 percent share in a pay-TV company, a $1 billion bid that was first revealed Tuesday.
According to reports, Prisa approved of Telefonica’s offer to acquire the shares in DTS, known as Digital+, a move reports say will allow wireless giant Telefonica to expand into the television services industry and offer bundled landline, wireless and cable packages to customers.
Prisa has been looking to lessen its debt burden in recent months, reports say; the company said the deal with Telefonica will likely close in the next month, but the transaction remains subject to regulatory clearance from both Spanish and EU authorities.
Full content: Reuters
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