Spanish defence contractor Indra is reportedly looking to buy Madrid-based satellite operator Hispasat.

The report, from Spanish business newspaper Cinco Dias, says that Indra is looking to dispose of €800 million-worth of assets in order to free up cash to make the bid.

Hispasat is majority-owned by Spanish power generator Red Electra which holds an 89.7 per cent stake which it paid €949 million for in 2019.

Hispasat also has a common shareholder with Indra with Spain’s state-owned Sociedad Estatal de Participaciones Industriales (SEPI).

Indra is already involved in space-related activity, mostly military, and makes sat-coms terminals.

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Tags: Hispasat, indra, satellite