It has been months since Hispasat was in the spotlight of the telecommunications market, with the Spanish satellite operator needing its capital restructured. And the solution is, as widely expected, that Spain's main broadcast network operator Abertis Telecom has been given green light to bid for 28.4% of Hispasat's shares. As Rapid TV News foresaw, the Competition Authority has given Abertis, which operates both analogue and digital broadcasting networks, an open door for this operation without any single condition. Abertis Telecom's intention for the takeover was announced in October 2007, after agreeing to buy out the holdings of Anertos, former Auna Telecommunications (now EHE) and bank BBVA.

In January Spain's government also agreed to authorize this acquisition.

Abertis Telecom will now have to find €199 million in order to buy EHE's 17.6% and BBVA's 10.8%.

At present Hispasat's fleet is made up of five communication satellites covering Europe and America, reaching 100% of the worldwide Hispanic market and 90% of Portuguese-speaking markets. Last year Hispasat had €128 million in revenues, EBITDA of €101 million and a net result of €36 million.

Abertis Telecom's operation in Hispasat consolidates the strategy of the telco following the purchase of 32% of French satellite operator Eutelsat last January which at the same time is one of Hispasat's shareholders with 27.69% of shares. This strategy is oriented to complementing Abertis’ position in the terrestrial transport network television with a satellite distribution network, and at the same time extending the geographical base of Abertis' telecommunication activities.

But on the whole the financial operation means for Abertis its dominance in the European satellite industry through Eutelsat and now Hispasat. The competitiveness of these two systems - especially Eutelsat - with SES Astra will become now stronger.

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