Telefonica completes Hispasat sale

hispasat-dishSpain’s Telefonica has sold its remaining shares in Hispasat to Eutelsat for €56 million in cash.

This follows an agreement signed on January 10 in which Telefonica sold a total of 23,343 shares in Hispasat to Abertis Telecom for €68 million in cash and signed a contract with Eutelsat for the sale of its remaining stake in Hispasat, subject to the approval of the Spanish authorities.

All told, Telefonica has now disposed of its 13% stake in Hispasat, leaving Abertis Telecom and Eutelsat as the satellite operator’s main shareholders.