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Byline: Danny Fortson in Seville, Spain
Spanish publishing and media group Grupo Planeta SA announced Wednesday, April 30, that it has agreed to buy a 25.1% stake of Telefonica SA's private television operator, Antena 3 de Televisiones SA.
In a filing to Spain's market regulator, Telefonica said the sale values Antena 3 as a whole at [Euro]1.45 billion ($1.62 billion), implying a [Euro]363.9 million price for the stake. Telefonica agreed to the deal at its April 11 shareholder meeting.
Telefonica must unload its stake in the television operator due to the impending merger of its Via Digital satellite television business with Sogecable SA. The …