PARIS--(BUSINESS WIRE)--Regulatory News:
Eutelsat Communications (Euronext Paris:ETL) announces that its 33.69% stake in the Spanish satellite operator, Hispasat, has been sold for a consideration of 302 million euros.
The transaction concludes an agreement reached in May 2017 between Eutelsat and Abertis which was recently approved by the Spanish Council of Ministers, thereby lifting the last condition precedent to its completion.
The divestment of Eutelsat’s stake in Hispasat is in line with the Group’s strategy of rationalising its portfolio of assets in order to maximise cash generation.
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Over 6,800 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,000 men and women from 44 countries who are dedicated to delivering the highest quality of service. Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).
For more about Eutelsat visit www.eutelsat.com