Spain: Red Eléctrica Española authorized to buy HispaSat

Electric company Red Eléctrica de España (REE) ha been cleared by the National Commission of Markets and Competition (CNMC) to acquire a majority stake of 89.68% over the Spanish satellite operator Hispasat, currently in the hands of rival company Abertis .

After the operation, REE will become “One of the main administrators of telecommunications infrastructure in the country,” said the president of REE, Jordi Sevilla. meanwhile, Abertis would be concluding its ongoing divestment process, focusing its activities towards transport infrastructures.

REE and Abertis have stated they are confident that the transaction will be completed within the first half of this year, once it obtains authorization from the government. Hispasat manages assets—the satellites, which are owned by the State—so it requires more scrutiny in its decision.

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