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Prisa rejected Vocento's interest to buy El País and Cadena Ser



Vocento, the publishing group of the newspaper 'ABC', has recognized the National Securities Market Commission that it contacted Rush to place an offer for your division of Media, but that the refusal of the publishing group of 'El País' and 'Cadena Ser' made him dismiss the project.

"Vocento, as a written communication group, with a healthy financial position, for some time now and as it is its obligation, it has been analyzing the different consolidation alternatives that could arise in the media sector, "he explained to the regulator.

"In this context, its Board of Directors met on December 29, 2020 to analyze different possibilities regarding the possible acquisition of the media from Prisa", has added.

"To this end, informal communication was established with Prisa and, noting the lack of availability to initiate any conversation in this regard, the project was abandoned without any offer having been transferred, much less approved, not even proposed to its shareholders or its Board, any capital increase ", concludes the text.

Vocento's communication comes after a news item from El Confidencial, which has published that the Vocento Council even approved a capital increase of almost 200 million euros to make an offer.

On December 27, Joseph Oughourlian, Prisa's largest shareholder with almost 30% of the capital, granted an interview to 'El País' in which he stated that "it would be a big mistake to sell the company's media right now. The market is totally sunk and apart from the price, it is not the moment, it is nonsense ".

About him rejection of Blas Herrero's offer, commented that "I understand that Monzón had spoken and had promoted certain offers what came to us and what frankly they were indecent, at the price of demolition. We are going to show that the media are worth much more than 200 million. "



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