Satellite Merger Obtains Phase I Clearance

July 1, 2008

Cleary Gottlieb successfully represented the parties in the acquisition of joint control over Spain's satellite operator Hispasat by the Spanish state-owned entities SEPI, CDTI and INTA as well as Abertis.

The European Commission cleared the transaction without commitments following a first phase detailed investigation of the possible effects of the transaction deriving from the fact that companies providing audiovisual signal transport (like Abertis) buy satellite capacity from undertakings like Hispasat.