By Chris Forrester, Senior Columnist, SatNews Publishers
Spanish defence contractor Indra is reportedly looking to buy Madrid-based satellite operator Hispasat.
The report, from Spanish business newspaper Cinco Dias, stated that Indra is looking to dispose of €800 million-worth of assets in order to free up cash to make the bid.
Hispasat is majority-owned by Spanish power generator Red Electra, which holds an 89.7 per cent stake which it paid €949 million for in 2019.
Hispasat also has a common shareholder with Indra with Spain’s state-owned Sociedad Estatal de Participaciones Industriales (SEPI).
Indra is already involved in space-related activity, mostly military, and makes SATCOM terminals.