Norbolsa | This Monday a royal decree law will be approved with the extension of the tax on large energy companies to 2025, a commitment of the Government with its partners -ERC, Bildu and BNG- but it seems unlikely that it will get the approval of Congress due to the opposition of PNV and Junts. As with any decree law, the extension of the energy tax will have to be…
Telefónica has started distributing the sale documents for the fiber optic company it shares with Liberty Global in the UK through the operator Virgin Media O2 (VMO2). The company’s goal is to raise around €1.2 billion by placing between 20% and 40% of its infrastructure company. According to Mergermarket, the aforementioned Hispano-British NetCo could be valued between £4 billion and £5 billion (€4.8 billion and €6 billion), in a deal…
Renta 4 | Ence has closed the acquisition of a biomethane generation plant in the town of La Galera (Tarragona), with a capacity to produce up to 50 GWh of biomethane per year, with its corresponding sustainability certificates. It has also signed a 15-year agreement with a gas trading company for the sale of the biomethane produced by the plant. As part of its business plan, Ence Biogas plans to…
The PSOE suffered around twenty defeats in the Plenary of Congress this Thursday, which sets a record for them in a single day (the previous record was eight). With this, they closed the first year of Government with 75 defeats that not only pertain to control initiatives without legal effects but also to laws.In the first round of votes during the plenary session, when amendments to the Law Against Food…
After 30 years of blockage, the definitive step has just been taken for the largest urban development in Spain and Europe to become a reality. Crea Madrid Nuevo Norte (CreaMNN, the project developer, participated by BBVA, Merlin, and Sanjose) and the public railway entities (Adif, Adif Alta Velocidad, Renfe Operadora, and Renfe Ingeniería y Mantenimiento) have formalized before a notary the transfer of the lands of the railway facilities in…
Intermoney | Amadeus (Hold, PO 65 €) announced yesterday, with the market open, that it will distribute to its shareholders an interim dividend of €0.50/share on 17 January. The stock will trade ex date on 15 January. The Group reiterates its dividend policy of a pay-out of between 40 and 50% of consolidated profit for the year. Specifically, for 2024, the Board of Directors expects to be close to the…
Link Securities | The Bank of Spain (BdE) has informed Bankinter that the Single Resolution Board, as the group’s resolution authority, has taken a decision determining the minimum requirement for Total and Subordinated own funds and eligible liabilities (MREL) for Bankinter. This decision sets a binding total MREL requirement, to be met as from its notification, at the consolidated level, of 20.31% of the Total Risk Exposure Amount (TREA) and…
Bankinter: The European Central Bank highlights the solidity of banks and slightly increases capital requirements for 2025. The ECB gives a positive assessment of the sector’s liquidity and solvency position with a CET1 capital ratio of ~15.8% and leverage of 5.8% (capital/total assets). By 2025 it is to increase capital requirements by 10 bps to 1.2% of RWAs (Risk Weighted Assets). Our view: We have a positive assessment of the…
According to data from the Bank of Spain (BdE), the total debt of the Spanish Public Administrations closed October at €1,628,243 million, €7,873 million less than in September. In relation to October 2023, the debt increased by €54,954 million. The majority of the debt was concentrated in the State, with €1,480,032 million, €10,067 million less than a month earlier. Meanwhile, the debt of the Autonomous Communities closed October at €334,210…
Link Securities | Banco Sabadell (SAB) has been notified by the Bank of Spain (BoE) of the decision adopted by the Single Resolution Board (SRB) on the determination of the minimum requirement for own funds and eligible liabilities (MREL) and the subordination requirement on a consolidated basis applicable to it. The requirements to be met, with immediate effect, are as follows: The minimum MREL requirement is 22.14% of the total…