abertis telecom and TDF reach a preliminary agreement regarding Axin

Press room abertis telecom and TDF reach a preliminary agreement regarding Axi n

Barcelona, June 11th, 2008 - Under the terms of this preliminary agreement, abertis telecom would acquire 65% of TDF s stake in the operator, Axi n.

- The price agreed for the 65% stake is 104 Mn.

The offer submitted by abertis telecom, which has the support of TDF, involves the acquisition from TDF of its stake in the network transport operator and audiovisual broadcasting company, Axi n. The operation amounts to 104 Mn and is contingent, among other issues, on obtaining authorisation from the anti-trust authority and the other Axi ns shareholders waiving their pre-emptive acquisition rights. The price implies a multiple of approximately 11,3x EBITDA 2007, consistent with other recent transactions.

In addition to TDF, Axi n s shareholder structure comprises Sandetel (in which the Andalusian regional government holds an interest) with a 23% stake, and savings banks Unicaja and Cajasol, with an aggregate 12%.

Axi n operates a total of 549 broadcasting and distribution sites in Spain, the majority of them located in Andalusia to give service, in particular, to the Regional television and radio channels.

abertis telecom is one of the leading telecommunications infrastructure and services operators in Europe, with more than 3,200 sites and the largest network of audiovisual broadcasting and distribution sites in Spain. abertis telecom is leading the rollout of digital terrestrial television in Spain and is working on the development of mobile DTT. The company has been the driving force behind several projects in Spain and Europe.

In the satellite sector, abertis telecom is the largest shareholder of Eutelsat (32% stake) and is waiting for to obtain the go-ahead from the anti-trust authorities to become the largest shareholder of Hispasat, with a stake of 28.4%. abertis telecom is part of abertis, one of the global leaders in infrastructure management in the area of mobility and telecommunications.

LINK:	http://www.abertistelecom.com/en/sala-de-prensa.php?id=2089...
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