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UPDATE 1-Telefonica, Vivendi close to buying Digital+

Tue. December 16, 2008; Posted: 03:34 AM
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MADRID, Dec 16, 2008 (Reuters via COMTEX) -- VIVEF | Quote | Chart | News | PowerRating -- Telefonica and Vivendi are about to close an agreement to buy Prisa's pay-TV platform Digital+ for 2.3 million euros ($3.10 million), Spanish radio Intereconomia reported on Tuesday.

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

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

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

At 0824 GMT, Prisa's shares rose 6.2 percent to 2.40 euros, after hitting an all-time low on Monday of 2.26 euros.

Prisa had 4.8 billion euros of debt at Sept. 30 and 1.4 billion due to mature in 2009.

(Reporting by Tracy Rucinski and Robert Hetz; Editing by Hans Peters) ($1=.7426 Euro) Keywords: TELEFONICA VIVENDI/PRISA (tracy.rucinski@thomsonreuters.com; RM tracy.rucinski.reuters.com@reuters.net; +34 91 585 2151)

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