Telefónica-Mediaset collaboration interested in Canal+

Juan Fernandez Gonzalez | 17-12-2013

Prisa has a new candidate on the list of possible buyers for Canal+. Italian analyst Carlo Festa, in Il Sole 24 Ore, has pointed to a deal between Telefónica and Mediaset to buy 56% of the pay-TV platform.

Telefónica's interest is nothing new, as the telco already has a share in the satellite TV company, as does Mediaset, although Prisa controls the pay-TV platform. Telefónica's name has been mentioned several times this year, but the amount offered has never been enough. Without an official price, different sources say that Prisa wouldn't accept an offer lower than €900 million, an amount which Telefónica and Mediaset now seem ready to pay.
The Italian media group and the Spanish telco currently have 44% of Canal+ shares and, according to Il Sole, both companies are discussing the terms of their combined offer. Last week Prisa stated that was looking for a buyer, but wouldn't accept just any price for the platform, after refinancing its debt and, temporarily at least, escaping pressure from creditors.

Canal+ tops pay-TV audience figures in Spain, with nearly two million subscribers, and has a leading online video-on-demand (VOD) platform, Yomvi. The satellite service has awoken the interest of different media groups around the world. Al Jazeera is thought to be the strongest option if the Mediaset and Telefónica's deal fails.