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Articles by The Corner

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
indra

In Europe 5th February 2025

Indra becomes most integrated European space company with control of Hisdesat and Hispasat: global Tier 1 status targeted by 2027/30

Renta 4 | The acquisition of Hispasat gives Indra a 43% stake in Hisdesat (military segment) which, together with the 7% it already owns, gives it control of Hisdesat and allows it to consolidate it. Indra will announce the degree of consolidation in its 4Q24 results presentation (Thursday 27 February). Hispasat and Hisdesat significantly boost Indra’s presence in upstream activities, with a potential market of around €36 million and EBITDA…

Talgo diferente

In Spain 5th February 2025

Trilantic, Torreal and Oriol family, 40% owners of Talgo, to auction stake in February

Link Securities | Trilantic, the largest shareholder of Talgo with 29% of the capital, will close in February an auction led by PwC for its stake, to which Torreal and the Oriol family, with a joint stake of 40% of the listed company, will also add theirs, the newspaper Expansión reports today. The three investors still have a syndicated stake in the Pegaso vehicle. Thus, those interested in this stake…

Banco Santander

In Spain 5th February 2025

Santander reports profit of 12,574 million (+14%) in 2024

Jefferies | 4Q2 First Look -New Guidance Supportive to Earnings and Buybacks: A 4% PBT beat, positively impacted by an FX adjustment in Argentina, with PBT ex-Argentina in line. Beats come from ‘core’ geos such as Spain, Mexico and Brazil, with softer prints in rest of Europe. New guidance implies c1-1.5bn EUR upside to ’25 cons profits (+10% at the mid-point) and c4bn EUR upside to cons buybacks in ’25-26….

Banco Santander Fachada 720x320 1

In Europe 4th February 2025

Santander appeals to CJEU against ECB’s decision to deduct deferred tax assets generated in Brazil from CET1 funds

Link Securities | The president of Banco Santander (SAN), Ana Botín, has assured that the bank’s British subsidiary (Santander UK) is not for sale and has reiterated that the UK is a key market for the Spanish bank, according to Bolsamanía. “The UK is not for sale. We love the UK and it will remain a key market. We review our strategy every year. The UK is profitable, it gives…

unemployment office

In Spain 4th February 2025

Spain’s unemployed up by 38,725 in January, reaching 2.6 million

Bankinter | The number of unemployed rose in January by 38,725 people compared to 55,000 expected and after a decrease of 25,300 in December. The number of unemployed stands at 2.6 million (up 1.5% month-on-month and down 6.1% year-on-year). Seasonally adjusted Social Security affiliates increased to 21.399 million people (35,800 more workers, up 0.17% month-on-month and 2.4% year-on-year). In non-adjusted monthly terms, the number of affiliates fell to 21.09 million…

DISA

In Spain 4th February 2025

Disa buys Q8 network in Portugal and becomes third largest oil company in country

The DISA Group has completed the purchase of 55 service stations from the Q8 network (owned by Kuwait Petroleum) in Portugal, thus expanding its presence in the Portuguese market where it becomes the third operator by number of service stations (312) with a market share exceeding 11%. The leader is the Portuguese company Galp, with 30%, followed by Repsol with 17%. The operation was finalized on January 31 and integrates…

OHLA

In Spain 4th February 2025

OHLA completes capital increase with rights for €150 million

Intermoney | Last Friday, with the market open, OHLA (OHLA) (Hold, Target Price under review) informed the National Securities Market Commission (CNMV) of the result of the capital increase with rights, of up to 320 million shares at $0.25 each, in which these had been trading on the stock exchange between 13 and 27 January. Finally, a total of 315,481,376 new shares were subscribed in this pre-emptive subscription period, representing…

Telefonica Prosegur

In the World 4th February 2025

Telefonica Brazil proposes two-step, six-month split to reduce operating and administrative costs

Link Securities | Telefonica’s Brazilian subsidiary has initiated a process of grouping and then splitting its shares in order to reduce operating and administrative costs and be more efficient in distributing profits to the firm’s shareholders, digital portal Bolsamania.com reported on Friday. According to the company, which operates under the name Vivo, the move will be put to a vote at an extraordinary general meeting on 13 March. If approved,…

Germany

In Europe 3rd February 2025

German election: a CDU-SPD coalition still baseline with ‘fatter’ tail risks at the margin

Annalisa Piazza (MFS Investment Management) | Following the eventful discussions and a non-binding motion on immigration approved by the Bundestag last week, the focus ahead of the February 23rd election is now shifting more towards immigration rather than the economy (and its structural problems). Given that Friedrich Merz made it clear that the CDU would not form a coalition government with AfD, a CDU-SPD coalition remains the most likely outcome…

Inditex forfrom

In the World 3rd February 2025

Inditex opens first For&From shop in Mexico

Link Securities | Inditex (ITX) has announced the opening of the Group’s first For&From shop in the Aztec country, in the Samara Shops shopping centre in Mexico City. Mexico is the fourth market in which the company has incorporated this format of shops for the social and occupational integration of people with disabilities, after the openings in Spain, Italy and Portugal, according to Bolsamania. The company explained in a statement…