Media Capital suitor Altice in advanced talks with Prisa; final offer likely to be valued at EUR 300m
Altice [AMB:ATCB] is in advanced talks to acquire Media Capital [ELI:MCP] from Prisa [BME:PRS], and the final price will be well under the Spanish media group's maximum EUR 450m evaluation, reported Expresso.
Although Media Capital is profitable it is financially fragile with net debts of EUR 98m and hence Altice is likely to pay around EUR 300m for the Portuguese group, which owns popular television channel TVI.
Even if a deal is struck soon the operation will not be concluded until the end of 2017 because of various regulatory hurdles in Lisbon and Brussels, the report said.
Prisa values its Portuguese unit between the range of EUR 400m and EUR 450m.