Abertis buys Telefónica stake in Hispasat

Iñaki Ferreras ©RapidTVNews | 23-02-2012

As part of its plan to oven the majority stake in the multinational telecommunications satellite operator, Abertis has agreed to buy Telefónica’s 13% stake of Hispasat in a deal said to be worth €124 million.

Following the transaction, the leading Spanish infrastructure and telecoms company will now be tantalisingly close to its target, owning 46% of the satellite operator. It also has another 3% indirectly via Eutelsat. Abertis also owns 16% of the company Gala Satellite, Hispasat’s second largest shareholder with 28%.
However before completing the deal needs to be approved by the Spanish government, with specific authorisation from the Council of Ministers, due to the strategic nature of the activity of the Spanish satellite operator. In addition, Hispasat has a 25.7% state participation, articulated through public corporations Sepi, INTA and CDTI.
Hispasat currently has several operational satellites, including Hispasat 1C Hispasat 1D and Hispasat 1E (30 ° West) and Amazonas Amazonas 1 and 2.