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Vocento Social

Vocento sells a 2.18% stake in Telecinco for 39.5 million euros

  • The transaction was carried out in the market at a price of 7.35 euros per share


Madrid, 30 July 2009.-Vocento has sold a 2.18% stake in Telecinco (5,375,815 shares) in the market for 39.5 million euros, equivalent to a price of 7.35 euros per share. After the sale of this financial stake, the Group now has a 2.9% holding in Telecinco.

Vocento is a leading multimedia company in Spain, thanks to the strength of its brands, which have a significant presence in all areas of information and entertainment, including the press, supplements, magazines, television, radio, audiovisual production, movie distribution, and the Internet.

The improvement in efficiency, with a 55.8 million euro cut in operating expenses (-13.3%), excluding non-recurring expenses, and the solid financial position, are enabling the company to support operating developments and to maintain its strategic focus on its regional brands, its positioning in national media, its leadership on the Internet, and on the major opportunity presented to Vocento by the new landscape in the audiovisual sector.

The national, regional and local positioning of Vocento, its commitment to innovation, and the strength of its brands, enable the Company to extend its reach beyond its competitors, covering over 24.6 million people, according to the EGM. For more information, go to Vocento.com.

 

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