Telefónica has agreed to sell the financial portal Invertia to the publishing company of El Español for one million euros, the highest offer submitted in the award process.
According to the operator in a statement, the operation began last September through a “competitive, public, transparent and open” process to any company that was interested in the financial portal.
Within the framework of said process, led by Telefónica’s Mergers and Acquisitions (M&A) team, 24 media outlets were contacted directly. Finally, there were 14 media outlets that signed a confidentiality agreement that allowed access to information from Invertia.com.
The deadline for submitting binding offers was extended until October 31, so that Telefónica received up to six offers within a price range that reached up to one million euros in the case of the highest, presented by the publishing company of the newspaper directed by Pedro J. Ramírez, which was finally awarded.
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