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Telecinco to raise €60m in equity over five years

Spanish commercial broadcaster Telecinco is looking to raise over €60 million in equity capital over the next five years.

This move, which the company will propose at the next general shareholders’ meeting next month, comes after its parent company, Italian media firm Mediaset, decided to merge Telecinco with Prisa-owned free-to-air station Cuatro at the end of last year. Telecinco hopes to raise 123.3 million new ordinary shares with a value of €0.50 each.