Telefonica has reportedly rejected an informal approach by Vivendi to acquire its pay-TV unit, Movistar Plus.
Telefonica is currently undertaking a strategic review of the unit, which has been a major pillar of its commercial strategy since its 2015 acquisition of pay-TV company DTS, reports Bloomberg.
The report cites a source who says the company is not planning an outright sale of the unit but may look at taking an investment partner.
Movistar Plus is the largest pay-TV provider is Spain, with around 4 million customers.
Earlier today, the platform announced a a non-exclusive distribution deal with DAZN for LaLiga matches starting next season. The deal covers five matches per gameweek from 2022/2023 to 2026/2027.
Speaking about the DAZN deal Sergio Oslé, president of Movistar Plus+ said: “At Movistar we will focus all our efforts on providing our customers with access to the widest range of content on the market. With this new agreement we guarantee access to all Movistar Plus+ customers to the main competition of our soccer for the next seasons.
“The agreements reached with LaLiga and DAZN strengthen the relationship with the best partners to continue promoting our ‘Infinite stadium’ with an unparalleled sports offer.”