Reuters: Private Equity: UPDATE 1-Spain's Abertis hopes to up Hispasat stake soon

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UPDATE 1-Spain's Abertis hopes to up Hispasat stake soon Mar 27th 2012, 10:44 Tue Mar 27, 2012 6:44am EDT BARCELONA, March 27 (Reuters) - Spanish toll road operator Abertis said on Tuesday it hoped to reach a deal with the Spanish government to increase its stake in satellite operator Hispasat in the near future. Abertis increased its ownership of Hispasat to near 50 percent by buying a 13 percent stake last month from Spanish telecoms group Telefonica. Several Spanish state companies also own stakes in Hispasat. Spain's conservative government has promised to close 27 state-run firms and sell minority stakes in 35 others to cut the country's deficit from 8.5 percent at the end of last year. "We are hoping to increase the consolidation (of Hispasat) in the short term," Chief Executive Francisco Reynes said. Abertis has been re-shuffling its asset portfolio since dividend-hungry private equity fund CVC Capital Partners bought a stake in 2010 and has said it is eyeing international expansion. The company has said it wants to play a leading role in Hispasat, while reducing its role in Paris-based European satellite operator Eutelsat. It has previously said Portugual's Brisa is no longer a strategic asset, but Reynes said Abertis would not sell at current market prices.

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