Portugal: Altice group agrees with Prisa to buy Media Capital

Page created: Friday, 14 July 2017 14:19 GMT

Altice  Media Capital  Prisa

Lisbon, July 14 (Lusa) – The Altice Group has reached an agreement with Prisa to acquire Portuguese media company Media Capital SGPS, SA, which owns television station TVI, the company said on Friday.

According to a statement from Altice sent to Lusa, the Media Capital purchase is part of the group’s global strategy, and the new owner wants to offer more content to consumers, focusing on local production and formats.

“The integrity and editorial independence of Media Capital will serve as a guiding principle for Altice’s media business,” the statement said.

Portuguese telecommunications and media company MEO, owned by Altice, in a statement sent to the Portuguese Securities and Exchange Commission (CMVM), said the takeover bid covers all 84,513,180 shares with a unit value of €1.06.

MEO added that the decision came “as a result of the conclusion, on 13 July, 2017, after market closure in Portugal, of a purchase and sale agreement with Promotora de Informaciones, SA (“PRISA”), for the acquisition of shares representing 100% of the capital stock of Vertix, SGPS, S.A. (“Vertix”), which holds shares representing 94.69% of the voting rights of Grupo Media Capital, SGPS, SA.”

At the end of June, at the general shareholder meeting, Prisa’s Chairman, Juan Luis Cebrián, also mentioned the company’s need to “reduce its perimeter.”

Meanwhile, Altice has scheduled a press conference at 11 am. on Friday in Lisbon.