More negotiations for Digital+ sale
Negotiations between Spain's main media group Prisa and the joint-venture Telefónica-Vivendi for the sale of satellite digital pay TV operator Digital+, continue. On Tuesday Telefónica's Board of Directors met to analyze the evolution of the talks.
Vivendi's representatives have been holding daily conversations on the subject since last week with Prisa's management. The main handicap continues to be the price at which Prisa will sell Digital+. Vivendi and Prisa don't coincide over Digital+'s value.
While Vivendi and Telefónica would be willing to pay over €2,000 million for Digital+ but this figure is far off what Prisa wants for it - some €3,850 million.
Some analysts assure the operation won't compensate Prisa at a inferior price of €2,500 million taking into account the media group has accumulated around €4,800 million in debts – 6.5 times the group's EBITDA.