Spanish media group Prisa has confirmed a bid to acquire all of pay-TV provider Sogecable. Prisa has agreed to buy an addition 2.94 percent in Sogecable from Eventos, taking its total holding in the company to 50.04 percent. Prisa is launching a public bid to acquire the remaining shares at EUR 27.98 per share. The move allows the company to expand in the audiovisual market, where Sogecable runs the Digital+ pay-TV service and the TV channel Cuatro. Earlier the two companies shares were suspended following media speculation of the bid.



Source:Telecompaper