Prisa must sell Media Capital stake

Started by labud, May 19, 2010, 04:01:02 PM

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labud

May 19, 2010, 04:01:02 PM
Prisa must sell Media Capital stake
19 May 10 -

Spanish media group Prisa has until July 30 to sell its minority stake in Portuguese media group Media Capital under the conditions of its debt restructuring.

Prisa must find a buyer for the stake or appoint an investment bank for the sale in order to meet the conditions of the â,¬1.95bn bridge loan it signed in April. The group was in talks with Portugal Telecom last year but the Portuguese government opposed a deal.

The company is also obliged to launch a capital increase of at least â,¬450m.
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