Abertis considers offloading Hispasat if Atlantia takes over | Satellite | News | Rapid TV News
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Abertis, a major stakeholder of Hispasat, is considering selling the Spanish satellite operator if Atlantia’s takeover bid is successful.

hispasat 36w 1 27 may 2017In a strategic attempt to keep Spanish ownership of such an important player as Hispasat, Abertis is reported to be negotiating with Red Eléctrica de España.

According to an analysis note published by Expansion, the partly state-owned corporation and sole operator of Spain’s power grid is looking for diversification opportunities in the telecoms business, and the Government would approve of a deal that would retain state control of Hispasat.

Following the recent agreement with Eutelsat, through which Abertis acquired Eutelsat’s 33.69% share, Red Eléctrica de España would have to pay over €1 billion for the entire company.

However, the operation is dependent upon Atlantia’s takeover bid. The offer presented by the Italian group has been given the green light by Spain’s antitrust agency, the CNMV.

If no third parties interested in Abertis present offers during the next two weeks, Atlantia will move the merger forward in the final months of this year.