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Prisa confirms Sogecable bid

December 20, 2007 12.04 Europe/London By Julian Clover

Promotora de Informaciones SA, better known as Prisa, has offered €2 billion for the remaining shares in Spanish pay-TV operator Sogecable.

Prisa is offering €27.98 per share, some 5.6% more than Sogecable’s closing price on Wednesday evening for the 53% of the company that it does not already own.

Sogecable runs the Digital+ DTH business on Astra and Hispasat and the Spanish version of Canal+. It also owns the Cuatro free-to-air channel that broadcasts using analogue terrestrial frequencies previously occupied by Canal. The DTH business has been behind its European peers, only recently introducing PVR and HD functionality, and has a subscriber base of 2,046,000.

Telefonica owns 17% of Sogecable and in recent days has been suggested as a potential bidder.

Prisa says it will maintain Sogecable’s separate listing on the Madrid stock exchange.

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Filed Under: Finance, Newsline Edited: 20 December 2007 12:04

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on X @julianclover, or by email at jclover@broadbandtvnews.com.

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