MILAN (AFX) - Telefonica SA has received several offers for its 75 pct stake in the Dutch TV production company Endemol NV, according to Paolo Bassetti, chief executive of Endemol Italia.
'There is a serious intent to sell, and there are several offers,' Bassetti told reporters when asked if the Spanish operator could sell Endemol.
Endemol 'is no longer a strategic business for Telefonica,' he added on the sidelines of a conference.
He explained that Endemol is a complex business because it is present in 22 countries with as many companies, however he does not expect the group to be broken up and sold piecemeal.
When asked if Telefonica is seeking to sell Endemol at 14 eur per share as reported by newspapers, Bassetti said the price is 'fair' considering Endemol's potential.
He added that he does not believe that there is a timeframe for the sale of the company.
Endemol has 'excellent' relationships with Mediaset SpA, the state-broadcaster RAI, Telecom Italia Media SpA's network La7 but its Italian, and Spanish, strategy could change if Mediaset were to take over the group, Bassetti.
Mediaset, which also controls the Spanish broadcaster Telecinco, has repeatedly denied plans to buy a stake in Endemol. philip.webster@afxnews.com pw/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
