Spain: Telefonica takes full control of Canal Plus

VIVENDI PORTE SA PARTICIPATION DANS CANAL+ FRANCE À 75%Mediaset, owner of a 22 per cent stake in Canal Plus, has reportedly given the green light to sell its shares to Telefonica, for €350 million.

With this deal Telefonica will control 100 per cent of the pay-TV company Canal Plus and become the largest pay-TV operator in the market with over 2.6 million subscribers.

Telofonica had been negotiating with Mediaset Spain to buy its 22 per cent stake in the Spanish pay-TV platform Canal Plus over the last few weeks.

Telefonica had already acquired a 56 per cent stake in the platform for €750 million to raise its share to 78 per cent. Telefonica will now have a free hand to integrate TV, broadband and telephony in attractive offers through its brand Movistar Fusion.

Mediaset will remain one of the key content providers to the pay–TV company.

Posted by on Jul 4 2014. Filed under Articles, Broadcast, Business, M&A, Pay TV.

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