Abertis Approached by Red Electrica for Hipasat Stake
10 Octobre 2017 - 10:44AM
Dow Jones News
By Nathan Allen
Spanish toll-road operator Abertis Infraestructuras SA (ABE.MC)
said Tuesday that Red Electrica Corp. SA (REE.MC) had shown an
interest in buying its 91% stake in satellite operator Hipasat SA,
confirming several days of press speculation.
However, Abertis said it hadn't received a firm offer from Red
Electrica and the board wasn't considering the approach.
The stake in Hipasat could fetch up to 1.72 billion euros ($2.02
billion) according to an analyst note from Banco de Sabadell SA
(SAB.MC) published in September.
In a separate release, the Spanish market regulator said it will
extend the review period for Atlantia SpA's (ATL.MI) takeover bid
for Abertis. The road operator now has until Oct. 24 to consider
the offer.
The bid, which was submitted in May and valued Abertis at around
EUR16.3 billion, received regulatory approval on Monday.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 10, 2017 04:29 ET (08:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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