Endemol has been bought by a consortium including John de Mol, Endemol co-founder, and Silvio Berlusconi, former prime minister of Italy, for £1.8 billion.
Telefonica sold its remaining 75% stake to the consortium and as part of the agreement, Mediaset, Berlusconi’s TV production company, John de Mol and Goldman Sachs have agreed to make a bid for the remaining 25% of the producer as soon as possible.
Telefonica announced that it would be selling off its stake in the company in February (see Telefonica Board Meets To Discuss Endemol Sale), appointing Merrill Lynch and Mediobanca, an Italian finance firm, to oversee the sale.
In January, Endemol agreed a deal to buy Endemol France from Telefonica, saying that the acquisition would be worth £300 million (see Endemol Acquires French Endemol Division).
Telefonica turned down an offer from Time Warner for Endemol in October 2004 for £1.38 billion.
Related Links
