Hispasat discussing EADS stake

By | December 6, 2001 | Feature

Hispasat revealed record trading results earlier this week, while at the same time the Spanish press was suggesting European aeronautical company EADS is looking to acquire a 5% stake in the satellite operator. According to the local ABC newspaper, Hispasat is negotiating with potential buyers because it wants to limit Eutelsat’s influence.

Eutelsat bought a 21% stake in Hispasat last August, with both parties agreeing an option to allow Eutelsat to boost its holdings to more than 30%. That decision will be made at an upcoming Hispasat Dec. 21 board meeting. If Hispasat decides not to grant Eutelsat that increased percentage, alternate buyers must not be competitors to Eutelsat.

As to Hispasat’s trading results, EBITDA revenues were up 23% (year-over-year), at 73.8 million euros, during the first ten months of its trading year. Overall income, in the 10 months to October 31, was 89.4 million euros, of which 83.3 million euros came directly from its satellite leasing activity.

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