MasMovil does not need a strong investment in 5G
The broadband market continues to grow in Spain: 31% penetration in Spain vs. 42% on average in other European countries, analysts at Morgan Stanley point out.
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Six Group launches takeover bid on Spanish exchange BME at 34 euros per share (33% premium)
The operation needs 50% support from BME’s capital. However, it also depends on the relevant authorizations. The purchase depends, in addition to the green light of the Spanish Competition Authorities, the approval of the Spanish market regulator CNMV.
In terms of growth per capita, USA and Germany have grown exactly the same since the beginning of this century
DWS | After experiencing a slight fall during the second quarter, German gross domestic product (GDP) grew at a slightly positive rate in the third quarter of the year. This means that Germany has been spared, by the hair, of falling into a technical recession. However, it is likely that the most recent data fail to reassure skeptics.
Is The Economist’s Influence Waning?
Peter Isackson (Fair Observer) | For the first time in over 150 years, The Economist is finding itself on the wrong side of history, or at least of the ideology of history it created and sold to the rest of the developed world.
Cellnex will wait at least 12 months before increasing capital
The firm reported revenues up 13% and EBITDA up 13% in first nine months of 2019.
Grifols obtains authorizations for the alliance with Shanghai RAAS
Renta 4 | The Spanish firm has reportedly obtained the necessary authorizations from the United States (Sept. 30) and China (Nov. 13) to conclude the sale of assets between Grifols (GRF) and Shanghai RAAS (Chinese pharmaceutical company), which is expected to conclude before the end of the year.
The venture capital boom is the private remake of the dotcom era
Yves Bonzon (Julius Baer) | One of the unintended consequences of zero / negative interest rates is the fuelling of a broad-based start-up / venture capital (VC) boom. This carries the seeds of a huge capital misallocation. Investors are relentlessly funding non-profitable companies on the hope of surfing the next disruptive business model. Yet, venture capital is a game of capital scarcity not of capital abundance.
IAG cash outflows in 2020/23 are now lower, underpinning cash generation
Banc Sabadell | IAG’s Capital Markets Day focused on cash generation. The reduction of some operational objectives (AKO’s 2020/23 growth from + 6% to + 3.4% per year; annual BPA growth from + 12% to + 10%), is in line with market forecasts and BS (e) .
Iberdrola has a global installed capacity of 30,900MW at the end of September
Banca March | The Spanish utility prepares its launching in Australia with a portfolio of renewable projects for 650 MW in the states of Queensland and South Australia, with an estimated market investment of approx. € 500M.
United Kingdom, a Singapore by the Thames?
Olivier de Berranger (La Financière de l’Échiquier) |”Let’s have fun”. Have the words of President Charles de Gaulle been prophetic? He was against the United Kingdom’s entry into the Common Market in 1963… More than 50 years later, although the tribulations of Brexit may cause amusement or disappointment, the truth is that they have been poisoning investors’ lives for more than three years, by separating them from British stocks. However, the outcome of this endless soap opera could well change the situation.