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Telefonica, Vivendi close to buying Digital+

Telefonica and Vivendi are about to close an agreement to buy Prisa's pay-TV platform Digital+ for €2.3 million ($3.10 million), Spanish radio Intereconomia reported.

Telefonica, Vivendi and Prisa all declined to comment on the report.

Vivendi would hold 60% of Digital+ and appoint its chief executive, while Telefonica, with 40%, would appoint the platform's financial director, Intereconomia said.

The price is below the €2.5 billion Prisa was reportedly hoping to fetch, the radio said.

Prisa had €4.8 billion of debt at September 30 and €1.4 billion due to mature in 2009. (Reuters)