Telefonica offers 295 mln euros for Mediaset stake in Digital+

MADRID, June 18 Wed Jun 18, 2014 1:53am EDT

MADRID, June 18 (Reuters) - Spanish telecommunications firm Telefonica said on Wednesday it has made a binding offer for Mediaset's 22 percent take in Spanish pay-TV group Digital+ for 295 million euros ($401.6 million).

The Spanish arm of the Italian group Mediaset would receive 10 million euros more if Telefonica finalises the acquisition of the 56 percent stake of Digital+ held by Spain's Prisa, Telefonica said in a statement.

If Telefonica goes ahead with the buyout of Prisa's stake in the pay-TV group, Mediaset would also receive up 20 million euros more over a period of four years depending on subscribers to the service, it added.

Mediaset will be paid a further 30 million euros if it gives up its acquisition rights for Prisa's Digital+ stake, the Spanish company said. ($1 = 0.7345 Euros) (Reporting by Paul Day; Editing by Tomas Cobos)

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