French media company Vivendi said on Friday it agreed to buy a 7.6% stake in Spanish rival Prisa, sending shares in the owner of Spain’s influential El Pais newspaper up 10% at opening.
“Buying shares in Prisa is part of Vivendi’s ongoing strategy to become a global leader in content, media and communications, while extending its access to the Spanish-speaking markets,” the French group said in a statement.
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