The consortium led by Italian broadcaster Mediaset, which yesterday secured Telefónica's 75% stake in Dutch television content producer Endemol, is preparing to finance most of its €3.5bn ($4.7bn) bid for the stake in the debt markets, according to bankers close to the deal.

Up to five investment banks are expected to be mandated over the next few days to arrange the debt financing package, which sources said would likely compose a mix of senior, second lien and mezzanine tranches.