Elecnor was awarded the contract in a joint venture agreement with Omani company, Target. The new infrastructure will double the water transportation capacity from desalination plants located in Barka and Sohar (in the north of the country) to the drinking water network, bolstering the supply in the Al Batinah region, one of the Sultanate’s most populous areas.
Iberdrola is selling its entire stake in German turbine manufacturer Siemens Gamesa, representing 8.07 % of its share capital. The price for the transaction is €1.1 Bn, which equals to €20 per share, plus a premium of 32%.
MásMóvil remains the exception in a sector marked by low growth rates and high competition. In fact, the company has begun 2020 with two positive pieces of news. On the one hand, the telecoms company is anticipating strong cash generation in 2021, which will allow it to reconsider shareholder remuneration policy. On the other hand, the company has once again been the leader, in January, in terms of client portability in both fixed and mobile phone markets.
The five main integrated utilities operating in the Spanish electricity sector (EDP, Endesa, Iberdrola, Naturgy and Viesgo) invested over 11 billion euros in their activities in this market between 2016 and 2018, according to a report prepared by Deloitte. Of this total investment figure, €1.15 Bn corresponded to R&D&I in those three years, of which almost a third was allocated to electricity in Spain over the period.
The supermarket chain DIA and the unions representing their staff have just signed the new collective bargaining agreement for the period January 1, 2019 to December 31, 2021. This includes salary increases for the company’s 16,000 employees.Under the terms of the new agreement, modules A and B have been combined into one. This will have a salary of 13,700 euros for 2020 and 14,000 euros for 2021.
Alphavalue | The magnitude of the downward revisions to the sectors should not come as a big surprise. In a very negative case (“worst case scenario”), the luxury sector could lose 34% and may come as an unpleasant surprise. The Stoxx600 would drop by 15% if fundamentals are threatened again. Although they were not a problem 10 days ago, it seems that sensitivity has increased now.
Holvi, the digital banking startup for freelancers acquired in 2016 by BBVA, has announced its entry into the United Kingdom, the third largest market it has broken into after Germany and Finland. Its aim is to become the financial partner of British SMEs and freelancers, thanks to its range of digital accounting tools.
Norges Bank has raised its stake in Sacyr to 3.56% from the 2.9% it currently held, once again exceeding 3 pct of the construction and concessions group’s capital. The move coincided with the group’s decision to refocus its strategy on expanding its concession business outside Spain.
The bond has a nominal amount of 500 million euros and will pay a fixed interest rate of 2,025% per year until May 5, 2027 (redemption date). As of this date, the bond will carry a fixed rate equivalent to a 7-year swap plus a margin of 2,663% until February 5, 2030. From this date until May 5, 2047 the margin will be 2,913% and from then it will be 3,663%.
According to articles in the press, the decision of Jordi Sevilla, president of REE (Red Eléctrica de España) responds to his growing disagreements with Teresa Ribera, one of four vice presidents of the Government and Minister for Ecological Transition.