Eutelsat S.A. today announced that its stake in HISPASAT will be increased to a minimum of 27 per cent from 21.15 per cent, thereby reinforcing its position as a key strategic shareholder in Spain’s national satellite operator. Eutelsat signed an agreement with HISPASAT in August 2001 to enter into the capital of the company with the potential to enlarge its investment. The increased stake takes Eutelsat’s representation on HISPASAT’s Board of Shareholders from two to three seats.
Operating Spain's regional satellite system that provides services to the Iberian peninsula and Latin America, HISPASAT shareholders include Auna, BBVA and Grupo Admira Media (a Telefonica subsidiary). The company manages three HISPASAT satellites with a fourth due for launch in 2002. Its capacity is used for consumer television broadcasting, telecommunications networks, high-speed Internet connections and multicasting.
Eutelsat S.A. is one of the world’s leading providers of satellite communications solutions. With its fleet of 18 satellites and additional capacity on three other satellites Eutelsat provides seamless coverage across four continents, encompassing Europe, the Middle East, Africa, south-west Asia and North and South America. Six satellites are under construction with launches planned over the next two years. Eutelsat’s satellite infrastructure gives it the flexibility to combine TV and radio services, rapid Internet access, multimedia entertainment, corporate network solutions and IP and non-IP business applications. From its strategic HOT BIRD™ orbital position and other orbital positions, Eutelsat transmits more than 1000 television and 550 radio stations to 98 million households via cable or direct-to-home with 41% of capacity dedicated to IP and non-IP network applications. Company turnover for 2000 was €686 million. With headquarters in Paris, Eutelsat’s workforce comprises 380 people from 23 countries.
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