Telefonica looking to buy remaining DTS stake from Mediaset

Telefonica_0Telefonica is reportedly seeking to up its stake in Spanish pay TV company DTS to 100%, holding talks with Italy’s Mediaset about buying its 22% stake in the business.

According to a Bloomberg report, Telefonica is in discussions to buy Mediaset’s share of the business and could pay around €350 million for its stake in the company.

The report said that Mediaset has been considering its options in relation to DTS –including increasing or selling its stake – while Telefonica taking full ownership would allow it to tailor offers such as the Movistar Fusion TV quad play package of TV, internet, landline and mobile.

Earlier this week, Telefonica definitively agreed with Prisa that it will buy a 56% stake in the pay TV platform, which is Canal+’s holding company, for €750 million.

The agreement follows Prisa’s acceptance in principal of Telefónica’s offer to buy the majority stake in DTS on May 7. This deal gives Teleféonica, which already held a 22% share in DTS a controlling stake of 78%, leaving Italy’s Mediaset with the remaining 22%.