MADRID, Nov 10 (Reuters) - Spain's competition watchdog CNC said on Wednesday it has given the go-ahead for a deal in which Telefonica and Telecinco will take 22 percent stakes in media group Prisa's pay-TV unit Digital+.
The CNC said Telecinco and Telefonica had renounced their veto rights over strategic decisions, thus leaving Prisa as the only party able to exercise 'decisive influence' over Digital+, Spain's leading pay-TV platform.
(Reporting by Elisabeth O'Leary and Robert Hetz)
elizabeth.oleary@reuters.com; +34 91 585 8295; Reuters Messaging: elizabeth.oleary.reuters.com@reuters.net
Keywords: PRISA TELEFONICA/
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The CNC said Telecinco and Telefonica had renounced their veto rights over strategic decisions, thus leaving Prisa as the only party able to exercise 'decisive influence' over Digital+, Spain's leading pay-TV platform.
(Reporting by Elisabeth O'Leary and Robert Hetz)
elizabeth.oleary@reuters.com; +34 91 585 8295; Reuters Messaging: elizabeth.oleary.reuters.com@reuters.net
Keywords: PRISA TELEFONICA/
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.