Italy: Telefonica could sell its 11.11% stake in Mediaset Premium to Vivendi, according to media

The Spanish telecommunications group Telefonica has an agreement with the Italian broadcasting group Mediaset enabling it to withdraw itself from the capital of the pay-TV subsidiary Mediaset Premium, should investors buy a stake in the latter, according to the information agency Reuters on 04/09/2014.

Telefonica acquired an 11.11% stake in Mediaset Premium for €100m on 07/07/2014. "The acquisition of holdings in Premium and partnering with a group in great standing like Telefonica begins a process of opening up the Italian pay-TV operator to other international partners, with a view to developing content production and distribution activities across all pay platforms," explained Mediaset Italia on 07/07/2014.

"Telefonica has an option enabling it to return its 11% stake in Premium if, in the six months following the acquisition (07/01/2015), another partner acquires a stake in the company," explained a source close to the issue to Reuters on 04/09/2014. "The possible interest of an investor for Premium will not be hindered by the presence of Telefonica which, I believe, has accepted…