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Telefónica pays €725m for Canal Plus stake

Telefónica’s 56 per cent stake in Canal Plus has cost €724.5 million, the high end of a price range agreed by both companies, who initially calculated a cost of between €688.2 million and €724.5 million.

The deeds of the operation have been signed with this ‘better price’ for media group Prisa – which sold the stakes to Telefónica. The operation had previously been approved by competition authority CNMC.

The telco now controls 100 per cent of the company, which has over 3.7 million pay-TV subscribers.

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