Spanish telco TelefÃ³nica has agreed to acquire a 21% stake in pay-TV provider Digital Plus.
TelefÃ³nica has agreed to pay Spanish media company Prisa Â470m for the share, which includes Â240m in cash and Â230m in cancelling debt, which values the pay-TV operator at Â2.4bn. The companies said that they would also develop a range of joint TV projects together.
TelefÃ³nica previously owned a 17% stake in Digital Plus, which has nearly 1.9 million subscribers, but sold its stake to Prisa for Â650m in 2008.
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