Eutelsat S.A. today announced that its stake in HISPASAT will be increased to a minimum of 27 per cent from 21.15 per cent, thereby reinforcing its position as a key strategic shareholder in Spain’s national satellite operator.
Eutelsat signed an agreement with HISPASAT in August 2001 to enter into the capital of the company with the potential to enlarge its investment.
The increased stake takes Eutelsat’s representation on HISPASAT’s Board of Shareholders from two to three seats.
Operating Spain’s regional satellite system that provides services to the Iberian peninsula and Latin America, HISPASAT shareholders include Auna, BBVA and Grupo Admira Media (a Telefonica subsidiary).
The company manages three HISPASAT satellites with a fourth due for launch in 2002.
Its capacity is used for consumer television broadcasting, telecommunications networks, high-speed Internet connections and multicasting.
