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Telefonica buys 11 pct of Mediaset pay-TV business
July 7, 2014 / 5:51 AM / 3 years ago

Telefonica buys 11 pct of Mediaset pay-TV business

MILAN, July 7 (Reuters) - Spanish telecoms group Telefonica has agreed to buy 11.1 percent of Italian broadcaster Mediaset’s pay-TV business Mediaset Premium for 100 million euros ($136 million), Mediaset said in a statement on Monday.

In the same statement, Mediaset said it would transfer its pay-TV activities to a new company with an equity value of 900 million euros.

Mediaset Deputy Chairman Piersilvio Berlusconi, son of former prime minister Silvio, said in an interview with daily paper Corriere della Sera that Mediaset was also in talks with other potential investors over its pay-tv business, including Qatari-owned broadcaster Al Jazeera and French group Vivendi . ($1 = 0.7345 Euros)

Reporting by Lisa Jucca; Editing by Kenneth Maxwell

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