There were two problems in Italy’s banking system which needed to be addressed, that of Banca Popolare di Vicenza and Veneto Banca. Finally, the situation has been resolved with the start of their liquidation process and the acquisition of “healthy” assets by Intesa San Paolo.
Articles by The Corner
José Benito de Vega | Moody’s has lifted Repsol’s outlook from negative to stable and confirms long- term debt rating at Baa2. Analysts were expecting this upgrading after Repsol presented a new strategic plan for 2016-2020. In fact, Repsol’s stock price performance has revalued 11%, less than the Ibex, but a lot higher than the Stoxx 600 Oil & Gas (-1%).
Xavier Colás (Moscow) | Although NATO is an alliance based on the sum of military power, emotions count for something in the day by day of the organisation. For the Russian president, NATO is another of the US’ foreign policy tools, where there are no allies “but just vassal states”.
Cellnex’s stock market listing in 2015 was the first in a series of moves (Inwit’s share offer, the sale of Telefonica’s stake in Telxius, etc) towards the creation of a listed telecommunications’ infrastructure sector, focusing on the mobile broad band segment.
Deutsche Bank has begun the process to sell its retail banking business in Spain and expects to receive non-binding offers before July 18. The sale price is not known, but according to the economic press, the bank’s initial intention was to obtain up to 2 billion euros from the disposal.
Citi’s research analysts targets two significant issues on this recent decline: disinflation pressures and what would happen if oil prices don’t recover.
Unicaja has announced it has received sufficient demand to cover its stock market listing, due on June 30, and expects to raise 875 million euros. The offers presented are not binding as no definite price has yet been obtained.