Telefónica expected to move ahead with Digital Plus stake

Telefónica intends to move ahead with the acquisition of a 20% stake in pay-TV provider Digital Plus, according to Spanish press reports.

The acquisition is expected to be funded by a mix of cash and debt. According to the reports, the deal will see Telefónica appoint two directors to the company. Telefónica sold the 16.79% stake it previously held in Digital Plus for €650m in 2008.