Confirmation this week from Telefonica chairman Cesar Alierta that the Spanish incumbent telecommunications operator is in advanced talks to take a 20% stake in Digital Plus, Grupo Prisa's satellite pay-television operation, is not without irony.rnIt was precisely Telefonica's surprise decision last year to tender its 17% stake in Sogecable (Prisa's pay-television division) that obliged the media company to buy out the other shareholders, thus triggering the balance-sheet problems that forced it into selling assets, including stakes in Digital Plus.
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