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An announcement from Red Electrica Corporacion ( (ES:RED) ) is now available.
Redeia Corporación announced the sale of its 89.68% stake in Hispasat to Orbitude, S.L.U., for 725 million euros, aligning with its strategic focus on electricity infrastructure. The transaction, which results in a total cash loss of 112 million euros, allows Redeia to improve its financial position for future investments in Spain’s energy transition, despite recognizing an accounting loss of 137 million euros after taxes.
More about Red Electrica Corporacion
Redeia Corporación, S.A. operates in the energy and telecommunications industries, primarily focusing on managing electrical and telecommunications infrastructures. The company aims to enhance energy transition with significant investments planned between 2025 and 2030, creating sustainable value for shareholders while maintaining a focus on regulated electricity activities.
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.
