Divicom customer Telefonica...........................
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Wednesday July 22, 9:43 am Eastern Time
Company Press Release
SOURCE: Telefonica
Agreement In Principle For a Joint Digital TV Platform
MADRID, Spain, July 22 /PRNewswire/ -- Telefonica (NYSE: TEF - news) and Sogecable, respectively the main shareholders in Via Digital and Canal Satelite Digital, the two digital satellite television platforms in Spain, have reached an agreement on their intentions to develop a joint platform which will begin operations as soon as possible.
As a result of this agreement in principle, both companies have begun the judicial, financial and commercial work needed to make this goal possible, in order to benefit their clients, suppliers and shareholders. The agreement, established on a parity basis, will be submitted to the appropriate authorities and its contractual terms should be completed by September 30 of this year, without prejudice to the requirements those authorities may establish.
Telefonica and Sogecable are pleased to set off on a path which will substantially improve service to the clients of their respective platforms and promote the introduction of state-of-the-art technologies in Spain.
SOURCE: Telefonica
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