Telefonica To Acquire 22% Of DTS From Mediaset - Quick Facts

By RTT News, 
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(RTTNews.com) - Telefonica SA (TDE.L, TEF) announced that its subsidiary Telefónica de Contenidos, S.A.U. has formalized a stock purchase agreement for the acquisition of 22% of the share capital of Distribuidora de Televisión Digital, SA (DTS) owned by Mediaset España Comunicación, S.A. (MEDIASET) (MDIEF.PK, MDIUY.PK) for an amount of 295 million euros. The company has also agreed for the payment of an amount of 30 million euros as consideration for the waiver of its pre-emptive right relating the stake held by Promotora de Informaciones, S.A. (PRISA) in DTS.

Additionally, Mediaset will receive an amount of 10 million euros in the event that Telefónica closes the acquisition of the 56% stake of DTS held by Promotora de Informaciones, S.A. (PRISA), and, in that case, an amount of up to 30 million euros depending on the evolution of the pay-TV customers in Spain of the Telefónica Group during the 4 years following the closing of the acquisition by Telefónica of the 56% stake of DTS held by PRISA.

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This article appears in: News Headlines

Referenced Stocks: PRIS , TEF

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