Hispasat still in play for take-over

Madrid-based satellite operator Hispasat is still very much a potential take-over target.

The name now most-frequently mentioned as being the buyer is Red Electrica De Espana (REE), the nation’s state-backed (but publicly-quoted) operator of the national electrical grid. It also has investments in Portugal, Peru and Bolivia.

Currently, infrastructure conglomerate Abertis controls Hispasat. In May this year it paid €302 million for Eutelsat’s 33.69 per cent stake in Hispasat, and taking its overall holding to just over 90 per cent and thus valuing Hispasat at some €900 million.

However, local reports say that Abertis wants a premium for its shares and which could value the business at €1 billion or more.

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