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.

Other posts by :

1. IRIS2 free for government usage?
2. Bank: AST SpaceMobile will orbit 356 satellites by 2030
3. SpaceX launches 600th rocket
4. Starlink: 10m customers and counting
5. SES predicts end of ‘big’ Geo satellites
6. Amazon Leo gets approval for 4,504 extra satellites
7. SpaceX gets a portion of India
8. TerreStar wants to build LEO network
9. Musk: “No Starlink phone”

Categories: Articles, Business, M&A

Tags: Hispasat, indra, satellite