By Pietro Lombardi 
 

Telefonica SA (TEF.MC) has reached an agreement with Prosegur SA Compania de Seguridad (PSG.MC) to buy a 50% stake in Prosegur's alarm business in Spain.

The deal value 50% of Prosegur's alarm business in the country at roughly 300 million euros ($331 million), the Spanish telecommunications company said Wednesday.

The price, or part of it, can be paid in treasury shares, in which case Prosegur will become a shareholder of Telefonica.

The deal is subject to regulatory approval.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

September 18, 2019 02:35 ET (06:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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