Mediaset unimpressed by Telefonica's offer for 22% stake in Digital Plus
Mediaset, the listed, Italian media group, is understood to be unimpressed by an offer tabled by Spanish telco Telefonica for its 22% stake in the Spanish pay TV operator Digital Plus.
An unsourced article in Italian-language daily Il Messaggero reported this information. The report said Telefonica is believed to have offered EUR 350m for the stake. It is possible that Mediaset was holding out for a better price, the item noted.
Mediaset has, under the terms of the contract it signed in 2009 when it first took the 22% stake in Digital Plus, until 20 June to decide on whether to match Telefonica's offer for a 56% stake in Digital Plus that has been accepted by the vendor Prisa. The report said its other two are options to sell its stake or remain in Digital Plus with its 22% holding.
The report said that if Mediaset decides to match Telefonica's offer, the two companies would divide the stake between them and would hold 50% each in Digital Plus.
Source Il Messaggero