Telefónica Confirms Plans to Sell Endemol

March 9, 2007 World Screen

HILVERSUM/MADRID, March 9: After months of speculation, Telefónica has finally confirmed its intention to sell part or all of its 75 percent majority stake in Endemol.

The Spanish telecommunications giant said today that it is “exploring strategic alternatives” in relation to the interest. It has retained Lehman Brothers as its financial advisor and has asked Merrill Lynch to offer “stapled financing” to the purchaser.