Telefonica refused to comment today on press reports that the telecommunications giant is negotiating the buy-out of US-based Spanish-language channel Telemundo.
The company also declined to comment on its rumoured acquisition of a majority stake in Argentinean cable company Multicanal or the possible sale of its 5% share in the UK's Pearson. The reports were published in various newspapers today in Spain.
The rumours reflect the frenzy of expectations set off by Telefonica president Juan Villalonga's surprise announcement last Friday that subsidiary Telefonica Media's planned initial stock flotation in June would be postponed while the division "continue(s) to grow." "We're speaking with a lot of companies," Telefonica sources said today.
Speculation has also been prompted by Telefonica Media's recent buying spree which has included a 70% stake in Spanish producer Lolafilms and 100% of four Latin America telcos and culminated last month with the buy-out of Dutch production giant Endemol Entertainment.
No comments yet