France Telecom subsidiary TDF looks poised to take control of leading Spanish film laboratory Madrid Film with an accumulated 79% interest in the company.
According to Spanish daily Cinco Dias, TDF, which already owns a 66% share in the firm, has agreed to buy out a 13% share held by Basque capital risk company Talde.
The move is considered somewhat unusual for TDF, which tends to focus more on technology oriented businesses.
Madrid Film, which boasts state-of-the-art digital installation capable of the latest in special effects, is Spain's oldest lab. Under the direction of president Alain Coiffier, it services most of the country's major film producers and is also active in the television and publicity sectors.
According to Cinco Dias, Madrid Film had a turnover last year of $11.1m (PTS2,000m) and posted a year-end profit of nearly $1.1m (PTS200m).