Telefonica May Sell Majority Stake In Endemol

Spanish telco giant Telefonica has hired Lehman Brothers as adviser to a possible sale of its 75 percent stake in Endemol, the company which brought the world Big Brother, reports the Wall Street Journal. The article has a list of people rumored to be interested in bidding for the stake, including private equity firms in partnership with Endemol’s UK team, the head of Endemol in France, and Spanish broadcasters. The price being bandied about is 3 billion euros (US$3.93 billion), which is a lot less than the 5.5 billion euros Telefonica paid for Endemol back in 2000. Telefonica said it would ask any buyer of its share to make an offer for the outstanding 25 percent as well.