Telefónica, the Spanish telecommunications group, has awarded Credit Suisse First Boston (CSFB) the mandate to float its subsidiary Antena 3 de Televisión, which it needs to complete by the end of November to meet the conditions of a sale earlier this year.

Grupo Planeta, the Spanish media company, and De Agostini, the Italian publisher, won an auction to buy 25.1% of Antena 3 in May with an offer that valued it at €1.45bn ($1.68bn). A condition of the deal was that Antena 3 is listed in Spain within seven months.