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FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT.
2011
Short-term deposits
At 31 December 2011 this amount mainly related to short-term deposits with credit institutions as shown below:
Date arranged
Maturity date Annual interest rate
Principal (Thousands of euros)
23/12/2011
03/01/2012
3.06%
50,000
29/12/2011
05/01/2012
1.704%
570
The uncollected accrued interest on these investments was EUR 38 thousand.
Date arranged
Maturity date
Annual interest rate
Principal (Thousands of euros)
09/04/2010
10/01/2011
2.25%
25,000
The uncollected accrued interest on these investments was EUR 411 thousand.
Other financial instruments
Gestevisión Telecinco together with Sogecable (now Prisa TV) and Prisa had signed in 2010 an agreement whereby
Gestevisión Telecinco has the option to obtain recognition of cer tain rights in its favour related to the management of
the subgroup Digital+ (DTS Distribuidora Televisión Digital, S.A and subsidiaries).
The price of granting the option is EUR 5,000 thousand, paid by Telecinco to Prisa TV.
Gestevisión Telecinco may exercise this right within three months from the first anniversary of the completion of the
purchase of Digital+. Execution of the rights of the Option Contract and payment of the exercise price are contingent
upon the suspensive condition that the required authorisation is obtained from the anti-trust authorities.
Execution of the option bears an additional premium of EUR 5,000 thousand.
If such authorisation were not unconditional or subject to suspensive conditions (as ruled by an independent exper t
appointed by the par ties) or if the par ties did not reach an agreement to determine whether the conditions were
substantial, Prisa TV, on the one hand, and Telecinco, on the other, would proceed, as appropriate, to:
• redeem the Telecinco shares held by Prisa TV.
• deliver Telecinco’s investment in Digital+.
• pay the corresponding additional amount (whether Prisa TV or Gestevisión Telecinco), based on the value of both
investments.
b) Available-for-sale financial assets
In 2010, this item includes the equity investments in Alba Adriática, S.L. and Kulteperalia, S.L.
The amount and the movements in the year in the items of which non-current Financial Investments are composed
were as follows: