Telefonica acquires a 21% stake in Prisa´s Digital+

Spain's Telefonica announced that it has bought 21 percent of Digital+, the pay television business of Spanish media group Prisa for $707.5 million.

Approximately 50% of the amount will be used to write off some of Digital+'s debt, Telefonica said in a statement. Telefonica and Prisa have also signed an agreement to explore possible collaboration in developing audiovisual and other businesses in Spain.

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