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Redeia Corporación to Sell Major Stake in Hispasat to Indra’s Subsidiary for €725 Million

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Redeia Corporación to Sell Major Stake in Hispasat to Indra’s Subsidiary for €725 Million

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Red Electrica Corporacion ( (ES:RED) ) has shared an update.

Redeia Corporación, through its subsidiary Redeia Sistemas de Telecomunicaciones, has agreed to sell its 89.68% stake in Hispasat to Orbitude, S.L.U., a subsidiary of Indra Sistemas, for 725 million euros. This strategic move, backed by the company’s Board of Directors and Audit Committee, is pending necessary administrative approvals and is seen as a significant transaction in the telecommunications sector, potentially impacting the involved companies’ market positions and strategic alignments.

More about Red Electrica Corporacion

YTD Price Performance: -0.37%

Average Trading Volume: 121,979

Technical Sentiment Consensus Rating: Sell

Current Market Cap: €8.77B

See more data about RED stock on TipRanks’ Stock Analysis page.

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