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MADRID, July 24 (Reuters) - Spanish media group Prisa said on Thursday it had sold an 8.5 percent stake in peer Mediaset Espana back to Mediaset Espana for 307.5 million euros ($414 million) or 8.892 euros per share.
The funds obtained from the sale would be used to buy back debt, Prisa said in a statement to the stock exchange. The price represents a 2.5 percent discount to the closing price on Thursday. ($1 = 0.7426 Euros) (Reporting By Sonya Dowsett; Editing by Andres Gonzalez)