Chilean President Pinera sells TV station
SANTIAGO (Reuters) - Chile's billionaire president, Sebastian Pinera, has agreed to sell his Chilevision television station to a local group, his investment company said on Saturday, in a deal worth an estimated $130 million.
Conservative Pinera, who ended 20 years of center-left rule when he took office in March, had been accused by the opposition of having conflicts of interests and was under pressure to sell the television station, one of the biggest and most profitable in the Andean nation.
Pinera's Bancard Inversiones Ltda said he had sold the broadcaster to the Linzor Capital investment fund.
Bancard said in a statement the sale would go through within 60 days, and that Pinera would pay more than $24 million in taxes on the sale.
Pinera came under political fire for delaying the sale of tranches of his $1.5 billion stake in flagship airline LAN LAN.SN (LFL.N) after a massive February 27 quake ravaged south-central Chile. He later sold his stake to defuse growing criticism over conflicts of interest.
Italian premier Silvio Berlusconi is widely criticized over conflicts of interest for owning Italy's No. 1 commercial broadcaster Mediaset (MS.MI).
(Writing by Alonso Soto; Editing by Simon Gardner and Sandra Maler)
LONDON - The euro reached a five-year peak against the yen and a six-week high against the dollar on Tuesday, as focus intensified on the dwindling level of spare cash in the euro zone's banking system and the ECB's apparent lack of concern.
SAN FRANCISCO - At Pinterest, the four-year-old online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.