Luton Airport operator Abertis has agreed to acquire the Spanish broadcasting company Axión for £128 million.

Luton Airport operator Abertis has agreed to acquire the Spanish broadcasting company Axión for €154 million (£128 million).

The 100 per cent acquisition, which was made through Abertis’ telecommunications subsidiary Abertis Telecom, is subject to regulatory approval, which is expected by the end of December.

Axión has 549 TV and radio broadcasting and distribution sites, mostly in Andalusia.

In the year to March 2010, Axión reported revenues of €36.4 million and net profit of €14.1 million. Axión’s shareholders include TDF, Sandetel and the savings banks Unicaja and Cajasol.

Barcelona-based Abertis employs around 11,000 people across the 18 countries in which it operates. In addition to airports, the company manages toll roads and car parks.