MADRID, SPAIN: Telefonica is planning to pay 400 million euros ($594.1 million) or 450 million for a 20-percent stake in indebted media group Prisa's pay TV unit Digital+, press reports said on Saturday.

Europe's biggest telecom firm has been in talks to buy the stake for months, and Spanish newspapers said Telefonica could make a final decision next week, citing sources familiar with the deal.

El Economista put a price tag of 400 million euros on the 20-percent stake, while fellow business daily Expansion estimated it would cost 450 million.

Prisa has been selling assets to try to pay off some of its 5 billion euro debt pile and reshape its media business.

The media group rejected a joint bid from Telefonica and Viviendi  for Digital+ last year as too low.

Telefonica has since said it is still interested in a minority stake in Digital+ with a partner. But it is not now clear whether it might buy a stake alone or in concert.