Prisa must sell Media Capital stake

Spanish media group Prisa has until July 30 to sell its minority stake in Portuguese media group Media Capital under the conditions of its debt restructuring.

Prisa must find a buyer for the stake or appoint an investment bank for the sale in order to meet the conditions of the €1.95bn bridge loan it signed in April. The group was in talks with Portugal Telecom last year but the Portuguese government opposed a deal.

The company is also obliged to launch a capital increase of at least €450m.