MADRID, Nov 21 (Reuters) - Telefonica is planning to pay 400 million euros ($594.1 million) or 450 million for a 20-percent stake in indebted media group Prisa's pay TV unit Digital+, press reports said on Saturday.
Europe's biggest telecom firm has been in talks to buy the stake for months, and Spanish newspapers said Telefonica could make a final decision next week, citing sources familiar with the deal.
El Economista put a price tag of 400 million euros on the 20-percent stake, while fellow business daily Expansion estimated it would cost 450 million.
Prisa has been selling assets to try to pay off some of its 5 billion euro debt pile and reshape its media business.
The media group rejected a joint bid from Telefonica and Viviendi for Digital+ last year as too low.
Telefonica has since said it is still interested in a minority stake in Digital+ with a partner. But it is not now clear whether it might buy a stake alone or in concert.
(Reporting by Martin Roberts; editing by James Jukwey) ($1=.6733 Euro) Keywords: TELEFONICA PRISA/ (martin.roberts@thomsonreuters.com; +34 91 585 2130; Reuters Messaging: martin.roberts1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. 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.
Europe's biggest telecom firm has been in talks to buy the stake for months, and Spanish newspapers said Telefonica could make a final decision next week, citing sources familiar with the deal.
El Economista put a price tag of 400 million euros on the 20-percent stake, while fellow business daily Expansion estimated it would cost 450 million.
Prisa has been selling assets to try to pay off some of its 5 billion euro debt pile and reshape its media business.
The media group rejected a joint bid from Telefonica and Viviendi for Digital+ last year as too low.
Telefonica has since said it is still interested in a minority stake in Digital+ with a partner. But it is not now clear whether it might buy a stake alone or in concert.
(Reporting by Martin Roberts; editing by James Jukwey) ($1=.6733 Euro) Keywords: TELEFONICA PRISA/ (martin.roberts@thomsonreuters.com; +34 91 585 2130; Reuters Messaging: martin.roberts1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. 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.
