Spain's Sogecable and World Cup rights.

Shares in Spanish broadcaster Sogecable climbed 4 percent on Friday after its free-to-air offering, Cuatro, was awarded the right to show key matches from this year's World Cup soccer tournament.

Rights owner La Sexta, owned by Globomedia and Mexico's Televisa, is having to share coverage because the three-month-old channel cannot be received everywhere in Spain.

By 0849 GMT, Sogecable shares were up 2.07 percent to 25.62 euros, having earlier risen 4.1 percent on the news, which came out just after the market closed on Thursday.

Sogecable was the worst performing company on the Ibex-35 <.IBEX> during May, losing 16.4 percent of its value, on fears La Sexta would compete for the rights to show FC Barcelona and Real Madrid matches, currently shown on Sogecable satellite TV offering, Digital+.

Rival channels Telecinco and Antena 3 said they planned to take legal action to block the decision.

Local media said Cuatro would pay 20 million euros ($25.55 million) for rights to the key games but Cuatro gave no financial details in its statement.