Deals
Telefonica Sells Hispasat Stake for $164 Million to Reduce Debt
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Telefonica SA said it will sell its stake in satellite company Hispasat SA for 124 million euros ($164 million) to Abertis Telecom as Spain’s biggest phone operator disposes of assets to reduce debt.
The sale of the 13.23% holding to Abertis Infraestructuras SA’s telecommunications unit is subject to government approval, Madrid-based Telefonica said in a statement today. Telefonica’s debt at the end of September was 55.43 billion euros.