PRISA Accepts Telefónica’s Offer for Digital Plus Stake

MADRID: PRISA says it has accepted Telefónica's offer to acquire its 56-percent interest in DTS Distribuidora de Televisión Digital, the holding company of Spain's Canal+ pay-TV platform.

Earlier this week, the telecoms giant offered 725 million euros ($1 billion) for the stake, which will bring its ownership of the platform up from 22 percent to 78 percent. Canal+ is Spain's dominant pay-TV provider, with its sports coverage among its most lucrative assets.

The purchase of the stake by Telefónica is seen as part of the telco's efforts to deliver a quad-play offer, given its existing capabilities in telephony, broadband and mobile.