PRISA headquarters in Madrid.

PRISA, the publishing group of EL PAÍS, has reiterated to the National Securities Market Commission (CNMV) that it considers that the Portuguese Cofina has breached the Media Capital purchase agreement and that it will carry out the measures and actions it deems necessary to defend your interests.

The Spanish group “rejects the arguments on which Cofina intends now to base a resolution of the sale contract,” as it has pointed out to the CNMV. Cofina told the Portuguese supervisor that he does not want to pay the 10 million criminal clause provided for in the contract for not having carried out his capital increase and completed the operation because, in his opinion, he has not breached the contract but must be renegotiated.

PRISA “states that there is no need, as Cofina seems to claim, for a modification of the sales contract to restore the balance of the respective reciprocal benefits in accordance with the principles of good faith, as there has been a prior breach of said contract by Cofina” , he adds in his communication to the CNMV.

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