Media
Spanish telecoms giant Telefónica has confirmed it will sell its stake in Dutch TV firm Endemol, the producer of Big Brother.
Speculation has been rife for months as to who will buy the 75% share, with private equity firms and Endemol's original co-founder John De Mol among the names linked to a bid.
Telefónica reportedly wants to move away from its content producing business to concentrate on distribution. It distributes multimedia content to its mobile phone clients, and is involved in pay-TV in Spain and Latin America.
The company has retained Lehman Brothers as its financial adviser, with investment bank Merrill Lynch facilitating any purchaser's transaction. This process is hoped to be completed by the summer.
De Mol, Italy's Mediaset, Goldman Sachs and Endemol France's president Stephane Courbit with fashion company LVMH, are all linked to bids and possible joint bids.
There have also been reports that Endemol UK chief creative officer Peter Bazalgette is considering a management buyout of Endemol.
Speculation has been rife for months as to who will buy the 75% share, with private equity firms and Endemol's original co-founder John De Mol among the names linked to a bid.
Telefónica reportedly wants to move away from its content producing business to concentrate on distribution. It distributes multimedia content to its mobile phone clients, and is involved in pay-TV in Spain and Latin America.
The company has retained Lehman Brothers as its financial adviser, with investment bank Merrill Lynch facilitating any purchaser's transaction. This process is hoped to be completed by the summer.
De Mol, Italy's Mediaset, Goldman Sachs and Endemol France's president Stephane Courbit with fashion company LVMH, are all linked to bids and possible joint bids.
There have also been reports that Endemol UK chief creative officer Peter Bazalgette is considering a management buyout of Endemol.
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