Spain: Prisa formalises sale of 56% stake in Canal+ Spain to Telefonica for €750m

The Spanish broadcaster Prisa formalised an agreement to sell its 56% stake in its subsidiary DTS, a pay-TV platform (known as Canal+ Spain, formerly marketed as Digital+) to the telecommunications group Telefonica.

The amount of the sale was €750m, or 3.5% more than announced on 07/05/2014 (€725m) at the time of the opening of negotiations between the two groups. Up to now, Prisa owned a 56% stake in DTS, while Telefonica and broadcaster Mediaset España each had 22%.

Telefonica will therefore now have 78% of Canal+ Spain. Completion of the transaction remains subject to approval by the banks that are Prisa's creditors, as well as by the Spanish competition authorities. In addition, Mediaset España "retains a right of first refusal on the operation," added Prisa on 02/06/2014.

Canal + has the majority of domestic TV rights for Liga BBVA and for Champions League in Spain for the 2012-2015 cycle.

Spain: Domestic broadcasters of Liga BBVA and Champions League

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