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.