Hispasat drops Spacecom bid

Madrid-based Hispasat has scrubbed its bid for Israel’s SpaceCom which operates the Amos fleet of satellites. Spanish newsletter ‘El Confidencial’ says that the bid, worth some €390 million, had failed because of the differences between the bid and SpaceCom’s asking price.

Also cited in the report were anxieties over the Gaza and Israel conflict. Other concerns are said to be worries over the state of SpaceCom’s satellites, not all of which are working at 100 per cent functionality.

Hispasat’s major shareholder Abertis has a reported €4 billion available for suitable investments.

Posted by on Aug 28 2014. Filed under Articles, Business, DTH/Satellite, M&A.

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