Portugal Telecom moves towards stake in TVI

Portugal Telecom has confirmed that it is in talks with Spanish media group Prisa to take a stake in Portugal’s Media Capital, owner of TV channel TVI.

The telco stated in a regulatory filing that a group of investors led by it could soon acquire a 30% stake in TVI. Prisa, which has been beset by financial difficulties, has been looking for a Portuguese partner for the business since last year.