Mediaset Premium shareholder Telefonica rules out increasing stake
Telefonica [BME: TEF], the Spanish telco, is understood to have ruled out increasing its stake in Mediaset Premium, the pay-TV arm of Italian media group Mediaset [BIT: MS], Italian language daily Il Sole 24 Ore reported.
The report cited sources close to Telefonica that noted it had indicated its 11% stake was not strategic and it was more likely to sell the holding than boost it. There had been speculation Telefonica might act as a strategic investor as part of moves to solve a dispute between Vivendi [EPA: VIV] and Mediaset after Vivendi backed out of a deal to acquire Mediaset Premium, it added.
Mediaset Premium has a valuation of EUR 756m, as previously reported.
The original article appeared in print: page 22
Source Il Sole 24 Ore