IBEX

Letterone launches a bid for DIA at 0.67 €/share: shares rise 60%

The supermarket chain DIA falling apart

The bad spell began in the middle of October with a profit warning for 2018 and has finished this week with the announcement of its exit from the Ibex35 at the end of the month. Between one event and the other, the company has suspended its dividend for 2019, has reorganised its leadership team, has been downgraded by Moody´s and S&P and has considered closing unprofitable stores in Spain.


Santander could return to Venezuela through Julius Baer

Santander Can Return To Venezuela Through Julius Baer

The market is speculating that Banco Santander could return to business in Venezuela through the assets of Julius Baer. The Spanish bank has not operated in Venezuela since it sold its shares in Bank of Venezuela to the country’s government for 1.050 billion euros.


Iberdrola adjusts the sale of Scottish power to Drax to share risks and adapt to European justice

Iberdrola Adjusts The Sale Price Of Scottish Power To Drax To Share Risks And Adapt To European Justice

The Spanish utility agreed to modify the initial agreement to sell part of the electricity power stations of its subsidiary Scottish Power to Drax Group. This firm sought to renegotiate the contract following an European Court of Justice ruling that declared illegal the payments to some UK stations to guarantee the capacity of electricity generation in the country.




Repsol reinforces its exploration position in Alaska with 12 blocks

Repsol Reinforces Its Exploration Position In Alaska With 12 Blocks

Repsol has secured 12 new blocks in an area near to Pikka, the largest on-land oil discovery in the US in the last 30 years. The oil company has secured mining domination in a zone situated south of the River Colville (Alaska, US), where ConocoPhillips has also made significant discoveries. Repsol´s partner Oil Search has also secured four leasing contracts.




The cancellation of Mexico's airport could cost the country more than €4.4 Bn

The Cancellation Of Mexico’s Airport Could Cost The Country More Than €4.4 Bn

The president elect of Mexico, Andrés Manuel López Obrador, confirmed the cancellation of the construction works for the airport of Mexico. This is the result of the binding referendum and means the end of a project with a budget of €10 bn, of which 20% has been completed. The president’s alternative proposal is to enlarge the the military airport Santa Lucia (terminal for international flights) and modernise the old airport of Benito Juárez in the centre of Mexico City (for domestic traffic).