Spain’s Stock Market Watchdog (CNMV) has finally given its green ligth to the bid from Hochtief, a subsidiary of ACS, for Abertis. The authorisation comes after the news of the talks between ACS and Atlantia aimed at reaching an agreement to put an end to the “bidding war”.
Atlantia and ACS could cease to be rivals in their bid for Abertis and become collaborators in the acquisition. The two companies acknowledged they had had initial talks, as a result of which they would jointly buy Abertis and share out its assets.
BBVA will invest 96 million euros to raise its stake in UK mobile bank Atom to 39 pct, the Spanish bank said in a statement.
Some key threats for investors, like the trade war between China and the US, have combined to paint a picture which makes us wonder if we should start to bet on defensive stocks. This contrasts with just one month ago when the market was betting strongly on cyclicals.
Acciona has been awarded a contract to design and build a desalination plant in Jebel Ali worth 250 million dollars (200 million euros). The contract was awarded by the Dubai Water and Electricity Authorities.
Aena may be studying the possibility of increasing its stake in the UK’s Luton airport (it has a preferential option) after its current partner, the fund Ardian, has shown interest in getting rid of its stake.
Bankia Chairman, José Ignacio Goirigolzarri, has fuelled M&A rumours after saying in an interview with the FT that the bank “fits perfectly with other large Spanish banks, specially BBVA.”
ACS, via its Cobra subsidiary, will build a photovoltaic plant in Mula (Murcia) with 500 megawatts of power which will become the biggest in the whole of Europe in terms of its size.
Bankia’s 2018-2020 strategic plan is forecasting a significant increase in profits, the distribution of nearly half of these profits to shareholders and improvments in various profitability and efficiency measures.
Ferrovial has succeeded breaking into the US market with its services division as well, thanks to the business Broadspectrum has brought it in that country. It bought Broadspectrum two years ago in Australia.