The Spanish government is thought to be close to selling most of its holding in local satellite operator Hispasat to its other two shareholders.
Market rumours in Spain suggest a deal is being discussed today that would transfer the majority of the…
The Spanish government is thought to be close to selling most of its holding in local satellite operator Hispasat to its other two shareholders.
Market rumours in Spain suggest a deal is being discussed today that would transfer the majority of the government’s holding to Spanish infrastructure group Abertis and French satellite operator Eutelsat.
According to local newspaper ABC, the state is considering a sale of around 25% of the operator for roughly €240m, while retaining a small stake.
The deal would give Abertis a 50% stake in Hispasat with Eutelsat holding 45%, added the report.
However, no official announcement had been made as SatelliteFinance went to press, and both Abertis and Eutelsat declined to comment on the matter.
The Spanish government’s current share in Hispasat is held by three state-owned groups: INTA, SEPI and CDTI.
According to Hispasat’s website, INTA owns 16.42%, SEPI has 7.41% and CDTI 1.85%.
Telefonica, Spain’s incumbent telecoms operator, had owned a 13.23% stake in the group until earlier this month, when it completed its €124m share sale to Abertis and Eutelsat, leaving them as its two largest shareholders.
