Telefonica extends $400M offer to acquire DTS

|About: Telefonica S.A. (TEF)|By:, SA News Editor

Telefonica (TEF) has offered to buy Mediaset's 22% stake in Distribuidora de Television Digital (DTS) for €295M ($400M). If the deal is signed, Telefonica will become the sole owner of the Spanish pay-TV company.

On June 2, the company agreed to buy a 56% stake in DTS from Prisa for €750M. The agreement is pending regulatory approval, but would increase Telefonica's share in DTS to 78%.

Telefonica is looking to expand its TV business to counteract its contracting phone industry.