Talks between Italy’s Mediaset and potential investors in its pay TV arm have lost momentum as a result of the higher valuation placed on the Premium unit following Telefónica’s investment in the business in July, according to Reuters.
Telefónica agreed to purchase an 11.11% stake and invest €100 million in the pay TV unit as part of a deal that saw Mediaset sell its 22% stake in Canal+ Spain to the telco. The deal valued Mediaset Premium at €900 million.
According to Reuters, citing sources with knowledge of the matter, Al Jazeera, widely tipped as a potential partner for Mediaset for most of this year, cooled on the idea as a result of the raised valuation. The news agency also cited a source close to Vivendi as saying that the French company – the other potential investor in Mediaset Premium – would not be interested in the short or medium term as it was focusing on acquiring a stake in Telecom Italia – which it will acquire as part of its deal to sell Brazilian telco GVT to Telefónica.
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