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Spain: New regulator allows buyout of Defense Ministry satellite operation shares

 |  November 13, 2013

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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