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Author Topic: Prisa must sell Media Capital stake  (Read 221 times)

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Offline labud

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Prisa must sell Media Capital stake
« on: 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 €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 €450m.
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