Prisa looking to speed Canal+ sale

October 15, 2013 10.56 Europe/London By Julian Clover

Prisa TVPrisa is planning to relieve its current financial pressures with an early sale of part of its stake in the Spanish Canal+.

The media company is in debt to the tune of €3,000 million and needs to find €1,000 million before the end of the year.

Local media reports that Telefónica and Mediaset, both of which already have stakes above 20%, are likely to be contenders for the Prisa TV division that has been continually in play for most of the past decade.

Attention has been drawn to a possible sale by a proposed refinancing agreed Friday by 84% of its creditors.