Spain: New regulator allows buyout of Defense Ministry satellite operation shares
Spain’s new competition regulator, the CNMC, has reportedly cleared the sale of 16.4 percent of satellite operator Hispasat to conglomerate Abertis; the Hispasat shares were previously under the ownership of the nation’s Defense Ministry.
The buyout will result in a total of 57 percent of Hispasat ownership for Abertis.
Since the start of its investment in the satellite firm, reports say Abertis has spent nearly $640 million in the company; the firm is now looking to double the size of the company for the next decade.
Full Content: Rapid TV News
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