Telefonica says buys 21 pct of Prisa's Digital+
Spain's Telefonica said on Wednesday that it has bought 21 percent of Digital+, the pay television business of Spanish media group Prisa, for 470 million euros ($707.5 million).
Of the 470 million euros, 230 million will be used to write off some of Digital+'s debt, Telefonica said in a statement.
Telefonica and Prisa have also signed an agreement to explore possible collaboration in developing audiovisual and other businesses in Spain.
(Reporting by Judy MacInnes; editing by Jason Webb)
($1=.6643 Euro)
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