Telefonica To Acquire Stake In DTS Pay-TV For EUR 295 Mln From Mediaset

(RTTNews) - The Spain based Telecom company, Telefonica (TDE.L, TEF) said in a filing on Friday that it has agreed to acquire 22 percent stake in Digital Plus Pay-TV for nearly $401 million or 295 million euros From Mediaset SPA (MDIEF.PK, MDIUY.PK).

Telefonica already has a 22 percent holding and is awaiting approval to acquire the rest of DTS from Promotora de Informaciones SA or Prisa. By completing the deal with Prisa, would have to pay Mediaset 10 million euros and as much as an additional 30 million euros depending on the number of customers who sign up to Digital Plus in the next four years.

In June, the Madrid based company agreed to buy 56 percent of DTS from Prisa for 750 million euros, and that deal is now awaiting regulatory approval. By accepting Telefonica's offer, Mediaset waived an option to make its own bid for Prisa's stake.