Telefónica finalises deal for DTS
03 June 2014 | Sophie Donoghue
Spanish incumbent Telefónica has finalised its deal to acquire a 56% stake in Distribuidora de Televisión (DTS) from media group Prisa.
The deal closed on Monday for €750 million, €25 million higher than the figure agreed between the two companies in May this year.
DTS is the owner of French pay-TV platform Canal+, of which Telefónica already owns 22%. The deal gives the Spanish company a 78% controlling stake in DTS.
The acquisition places Telefónica as the major pay-TV operator in Spain.
“This agreement is a significant step forward in the process of transforming the company into a leading digital telecoms operator,” said Cesar Alierta, chairman of Telefónica.
Last week, Telefónica, SDN specialist Cyan and software solution provider Red Hat announced an agreement for the development of a network functions virtualisation (NFV) architecture.