Enel is Spanish Endesa’s main shareholder with a 70% stake. Spain’s Energy, Tourism and Digital Agenda minister, Álvaro Nadal, has accused Enel of “playing politics for the Italians to the detriment of Spanish consumers and workers.”
Banco Popular said on Tuesday that in the context of the strategic options for the bank unveiled during its AGM, including a combination of businesses, several entities have expressed interest in exploring a possible operation of this kind.
The CNMV and the government have been trying for years to get the big companies and Spanish banks to issue debt in Spain. But despite some reforms having been made, Spanish companies continue to head for Europe and even farther afield to ask investors for money.
During 1Q17 Spanish Caixabank finished the integration with Portuguese BPI reporting net attributable profit of €403 million, up 47.9% year on year. This resilient stream of revenues coupled with good credit quality are some of the reasons for BBVA’s analysts bet on the stock.
It’s now official. Atlantia has launched a full takeover bid for Abertis worth 16.341 billion euros, implying a price per share of 16,50 euros. Payment will be made either in cash or via a share exchange.
After the Endesa takeover in the late 2000s, followed by the financial crisis and the Fukushima accident, Enel’s process to extract value from the Spanish utility transaction has been slow and painful. A diet was needed. Now it is starting to bear fruit with debt ratios and credit rating finally improving.
Fernando Rodríguez |The first quarter results from the Spanish banks have fuelled rises in the majority of their stock prices. But analysts are divided over the future market performance of a sector which is showing some lights, like a decline in provisions, but also a few shadows, such as weak profitability.
Telefonica’s net profit rose 42.2% to 779 million euros in the first quarter of 2017 from a year earlier. The 2016 results were reformulated mid-last year after the group decided to stop presenting its UK subsidiary O2 as a discontinued operation. Revenues from its Brazil and Latin American operations were the main earnings driver.
British prime minister Theresa May could put a cap on the increase in electricity and gas prices in the UK, while also cutting water and gas charges, if she is re-elected. This sort of measure could affect Iberdrola’s UK business, which accounts for 25% of group EBITDA.
World stock markets are at record highs, particularly in the US, boosted by the promises of a heavy investment drive made by President Trump. But the fundamentals don’t support the markets’s strong performance, which is causing some concern.