Spanish economy

orange masmovil

EU approves Orange-MásMóvil merger after agreeing remedies with Digi

The deal, valued at €18.6 billion, will create the largest operator by number of customers in Spain, with more than 7.3 million broadband customers, more than 30 million mobile services and more than 2.2 million television customers. The conditional EU approval for the merger of Orange SA and Másmóvil Ibericom SA, Spanish mobile phone companies, has taken almost two years to receive approval from Brussels, and given the significant competition…


santander sucursal 3CM

Santander increases cash dividend by 50% and will buy back nearly 1.5 billion shares

Banco Santander’s board of directors announced on Monday that it will vote at the next general shareholders’ meeting, scheduled for 22 March 2024, on a final cash dividend charged to 2023 of €0.095 per share. Thus, the total cash payment from last year’s accounts will be 17.60 cents, an increase of approximately 50% compared to the remuneration of the previous period. In addition, the bank will launch a share buyback…


exports spanish2

Spanish exports fall by 1.4% and imports by 7.2% in 2023

In 2023, exports of goods exceeded €383 billion (1.4% down on 2022), while imports reached €424 billion (7.2% less). This has meant that Spain’s trade deficit amounted to €40.56 billion in 2023, 43.3% less than in 2022. In 2023, non-energy exports increased by 0.7%, which partially offset the 20.6% drop in the energy segment. In this respect, it is worth noting that energy imports, especially gas, decreased compared to 2022….


Applus

CNMV admits Amber EquityCo’s counter-offer for Applus+ for processing

Link Securities| The National Securities Market Commission (CNMV) agreed on 16 February 2024 to admit for processing, in accordance with the provisions of article 17 of Royal Decree 1066/2007, of 27 July, on the rules governing takeover bids, the application for authorisation filed on 14/09/2023 by Amber EquityCo, S.L.U. for the launch of a voluntary takeover bid for 100% of the shares of Applus (APPS), in competition with the bid…


Indra Tecnocom

Indra buys remaining 65% of GTA and is now one of few companies in the world able to cover entire value chain of the business

Link Securities| Indra, a leading global consulting and technology company, has closed the acquisition of 65% of Global Training Aviation (GTA), thus reaching 100% of the capital, and becomes one of the few companies in the world able to cover the entire value chain of this business, from the development of the most advanced simulators and training systems to the provision of training services for civil and military pilots. Indra…


supermercado precios

Spain confirms final CPI for January

Bankinter : Final CPI January 2024 confirms +3.4% year-on-year (from +3.1% year-on-year previously). Underlying CPI also confirms +3.6% year-on-year (from 3.8% year-on-year previous). Month-on-month 0.1% month-on-month (from 0.0% month-on-month Dec-23) and in the Underlying -0.4% month-on-month (from +0.2% month-on-month Dec-23). Analysis: With no surprises, the final January data confirm the provisional figures. The difference between the General and Underlying Rate narrows to 0.2pp. The increase in the headline rate is…


Telefónica

Telefónica wins lawsuit against Millicom for cancelling purchase of Costa Rican subsidiary

A New York court has ruled in favour of Telefónica in its lawsuit against Millicom International Cellular for refusing in 2020 to honour the agreement to buy the telecommunications company’s subsidiary in Costa Rica for $70 million (around €530 million at current exchange rates). Although the ruling does not specify the amount to be paid in compensation by the telephone operator, which refused to make the purchase despite having agreed…


Exports

World trade slows down and Spanish exports fall for “first time in years”

At the end of 3Q23 Spain still maintained slight growth because the fall in volume (-4.7%) was offset by the rise in price (+5.3%). But by 30 November, Spanish export turnover was already down slightly, by 0.7% (Germany by -1.3%), while those of Italy and France were up, by +0.7% and +2.8%. “In 2023, and for the first time in many years, Spanish exports have fallen in volume and value,…


Puig

Goldman Sachs and JPMorgan to coordinate Puig’s IPO before summer

Link Securities| Spanish perfume and cosmetics multinational Puig has completed the banking syndicate that will lead its Initial Public Offering (IPO), expected before the summer, Expansión newspaper reports. Goldman Sachs and JPMorgan are the banks leading the placement as global coordinators. In second place are Bank of America, BNP Paribas, Caixabank and Santander and in third place are BBVA and Banco Sabadell.


BP

BP paralyses 2,000 million investment because government has not transposed European renewables directive for over two years

BP is waiting for the government to transpose the European renewables directive to unblock its plan for the Castellón refinery. Andrés Guevara, president of BP Spain, said yesterday that “hundreds of millions” worth of investments have been paralysed by the delay of the Ministry for Ecological Transition in the transposition of a European directive. According to “Economía Digital”, the governments of Germany and the Netherlands have already taken this step,…