Spanish Government gives green light for sale of 13.23% of Hispasat
Iñaki Ferreras | 31-12-2012
The Spanish Government has given the go-ahead for Telefónica to sell its 13.23% stake in satellite operator Hispasat.
The buyers are the country's main infrastructure and telecommunications companies Abertis (with 7.23%) and Eutelsat (5.99%).
According to Cinco Días, Eutelsat, as one of Hispasat's main shareholders, had first option to buy Telefónica's share. The transaction amounted to €124 million, which Telefónica, through its subsidiary Telefónica de Contenidos, will receive when the transaction is closed.
Once the sale is concluded Abertis will still be Hispasat's main shareholder with 40.62% of its capital, while Eutelsat's share will increase to 33.68 %.
The sale must still be approved by the competition authorities in Spain.