Telefónica of Spain is expecting to raise between EUR1.1 billion and EUR1.6 billion from the flotation of its TV production company Endemol. Telefónica bought Endemol in 2000 for EUR5.5 billion but has been forced to take a large writedown on the Netherlands-based firm, which is behind reality TV shows such as Big Brother. More details of the planned listing will be released later today.
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