Inditex, Iberdrola, Banco Santander, BBVA And Telefónica Are Preparing A Joint Effort To Purchase Medical Equipment

The largest companies in the Ibex 35, Inditex, Iberdrola, Banco Santander, BBVA and Telefónica, are leading an initiative to fight against the coronavirus

The largest companies in the Ibex 35, Inditex, Iberdrola, Banco Santander, BBVA and Telefónica, are leading an initiative to fight against the coronavirus.

Spain’s top companies are preparing a joint effort to buy the necessary material for this health crisis, such as respirators or facemasks. Their intention is to coordinate, as best as possible, the donation of essential material. In this way, they can better meet the needs of the health authorities and not duplicate efforts.

Each one of these firms is considering how it can be more useful by contributing suppliers and resources. And, in principal, their efforts are being complemented via Inditex’s logistics. It is the company with channels open from China which can facilitate imports of this type of material. The initiative is open to other companies keen to participate and does not have any economic objective.

This important operation is estimated at around 150 million euros, at the rate of over 25 million per firm, according to internal sources who have confirmed it with news agency Colpisa. That said, each company decides on the amount it wants to contribute. The important thing is to get the much needed materials and equipment and see how to bring them into Spain.