Telefónica offers 295 million to Mediaset for full control of Digital+

Telefónica would take over 100% of this pay television, given that at the beginning of June the operator reached an agreement with PRISA (owner of 56% of the platform).

Telefónica has presented a binding offer to acquire for 295 million euros 22% of the share capital held by Mediaset of the pay television Digital+ (Digital Television Distributor).

In this way, Telefónica would acquire 100% of this pay television, given that at the beginning of June the operator reached an agreement with PRISA (owner of 56% of the platform) to acquire its participation for an amount of 750 million euros.

Mediaset will additionally receive another 10 million euros if the operation between Telefónica and PRISA is finally closed. Mediaset could receive another 20 million euros, depending on the evolution of pay television customers during the four years following the closing of the acquisition.

In a communication of relevant fact sent this Wednesday to the CNMV, Telefónica states that in the event of acceptance of the offer made by Telefónica to Mediaset, the latter business group would renounce its preferential acquisition right over PRISA's participation, receiving as consideration "an amount of 30 million euros, in addition to the aforementioned amounts."

This operation is subject to the mandatory authorization of the competition authorities.