Red Electrica completed the acquisition of a stake in Hispasat from Abertis for €949m.

Abertis, a Spanish worldwide leader corporation in toll road management, sold an 89.7% stake in Hispasat, the operating company for a number of Spanish communications satellites, to Red Electrica, a partly state-owned and public limited Spanish corporation which operates the national electricity grid in Spain, for a total consideration of €949m. The agreement reached will allow a significant expansion of the Red Electrica Group's telecommunications business towards new customer segments and geographical areas, in addition to exploring potential synergies with the group’s existing fiber optic business. Moreover, it will be a definite step forward in the consolidation of the Red Eléctrica Group as a global operator of infrastructure of a strategic nature both in Spain and internationally; managing electricity transmission grids, fibre optic networks and satellites.