French media conglomerate Vivendi has asked the Spanish government for authorisation to buy up to 29.9 per cent in Spanish media company Prisa.
Prisa revealed the request in a filing to the stock market regulator. Vivendi already holds a 9.94 per cent stake in Prisa.
Vivendi had previously said the initial stake was part of the group’s strategy “to become a global leader in content, media and communications” and that it sought to extend its reach in the Spanish-language markets in Europe, Latin America and the US.
The news comes somewhat delayed given that Spain’s press reported back in January that Vivendi wanted to boost its shareholding in Prisa.