Spanish construction and telecoms giant Abertis is buying a large stake in Spanish satellite operator Hispasat from Telefónica. Abertis, which recently cut its investment in Eutelsat by half, is paying $164.5 million for Telefónica’s 13 per cent stake in the Spanish operator. It means Abertis controls almost 50 per cent of Hispasat.

Abertis will now be Hispasat’s largest investor, with about 47 per cent of the company. Eutelsat itself holds 28 per cent of Hispasat (and Abertis still has a 16 per cent holding in Eutelsat).

There are several Spanish state institutions holding shares in Hispasat.

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