Abertis Takes A Step Closer To Hispasat Purchase
[Satellite Today – 2-15-08] Abertis, the Spanish infrastructure company, has taken a step closer to strengthening its position in the European satellite industry. The company said Feb. 15 that the Spanish Cabinet had given it the green light to acquire 28.4 percent of Hispasat through its telecoms subsidiary, Abertis Telecom. Now that the Spanish government has authorized the deal, it must be cleared by the anti-trust authorities. Abertis Telecom will be the largest shareholder in the operator.
Abertis Telecom now has significant stakes in both Eutelsat and Hispasat. Abertis Telecom’s acquisition of a direct stake in Hispasat reinforces the strategy initiated with the purchase in January 2007 of 32 percent of Eutelsat, which in turn owns 27.69 percent of Hispasat, to round off its position in the terrestrial signal transmission network with a satellite transmission network and broaden the geographical scope of Abertis’telecoms business.