PT eyes Prisa deal

By Chris Dziadul

Portugal Telecom has confirmed it is engaged in talks with Spain’s Prisa to buy a 30% stake in Media Capital, the operator of the leading Portuguese channel TV1.

However, it has also denied that talks are already at an advanced stage and insisted no agreement has yet been reached.

According to Diario Economico, the potential deal is worth around €150 million and could include an option for Portugal Telecom to buy out the remainder of Prisa’s 94% stake in Media Capital.