Hispasat price tag raises again on the back of sector deals
Abertis Infraestructuras’ [BME:ABE] new owners Atlantia [MI:ATL] and ACS [BME:ACS] have again increased their price expectations for the satellite unit Hispasat, reported Expansion citing financial sources.
The reason, according to the report, is the recent interest of EchoStar [NASDAQ:SATS], the Englewood, Colorado-based digital set-top boxes for direct-to-home satellite service designer, in Inmarsat [LSE:ISAT.L], the UK-based global mobile satellite communications services provider.
In the three weeks since the interest of EchoStar was confirmed, the valuation of Inmarsat has gone from EUR 1.8bn to EUR 2.9bn, according to the report.
Meanwhile, Hispasat’s price tag is now higher than the EUR 1.149bn deal, Abertis agreed with Red Electrica de Espana [BME:REE] (REE) and above the EUR 1.254bn valuation set by ACS’s German unit Hochtief [FRA:HOT], the Spanish-language paper said. After the offer for Abertis ended, ACS and Atlantia began to sound out the market for Hispasat with a price tag of more EUR 1.3bn, according to the report.