Telefonica SA Binding offer for acquisition of 22% of DTS (8930J)
June 18 2014 - 2:00AM
UK Regulatory
TIDMTDE
RNS Number : 8930J
Telefonica SA
18 June 2014
RAMIRO SÁNCHEZ DE LERÍN GARCÍA-OVIES
General Secretary and
Secretary to the Board of Directors
TELEFÓNICA, S.A.
TELEFÓNICA, S.A. as provided in article 82 of the Spanish
Securities Market Act (Ley del Mercado de Valores), hereby reports
the following
SIGNIFICANT EVENT
Telefónica announces that has submitted a binding offer for the
acquisition of 22% of the share capital of Distribuidora de
Televisión Digital, SA (DTS) owned by Mediaset España Comunicación,
S.A. (MEDIASET) for an amount of EUR 295 million.
Additionally, Mediaset would be entitled to receive an amount of
EUR 10 million in the event that Telefónica closes the acquisition
of the 56% stake of DTS held by Promotora de Informaciones, S.A.
(PRISA), and, in that case, an amount of up to EUR 20 million
depending on the evolution of the pay-TV customers in Spain of the
Telefónica Group during the 4 years following the closing of the
acquisition by Telefónica of the 56% stake of DTS held by
PRISA.
In case of acceptance of the offer, Mediaset would waive its
pre-emptive right relating to the sale to Telefónica of the stake
in DTS held by PRISA, receiving as consideration for such waiver an
amount of EUR 30 million, in addition to the aforementioned
amounts.
This offer is subject to the fulfilment of the customary
conditions in this type of transactions.
Madrid, June 18, 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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