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telefonica edificio

Telefónica’s main shareholders back Vodafone Spain deal, cornerstone of new strategic plan

Alphavalue / Divacons | Telefónica chairman Marc Murtra has reportedly secured the support of the company’s main shareholders to buy Vodafone’s Spanish subsidiary. The agreement is reportedly backed by the state-owned holding company SEPI, Saudi Arabia’s STC and CriteriaCaixa, according to its website. The acquisition would be the cornerstone of Telefónica’s new strategic plan. Murtra met with Manuel de la Rocha, chief economic advisor to President Pedro Sánchez, as well…


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Alstom appeals selection of CAF to renew Belgium’s train fleet again, despite national operator’s decision to continue process

Norbolsa | Alstom is again appealing the tender for the Belgian SNBC contract despite the operator’s decision to continue with the process (still unsigned). The Council of State (administrative court) has set a hearing for 29 August, at which Alstom will face SNBC. The appointment of CAF to renew the Belgian fleet, a project with an assessed value of between €1.7 billion and €3.5 billion, prompted Alstom, which has two…


Prosegur

Prosegur employees provided with AI assistant

Link Securities | Prosegur (PSG) reported on Monday that it has provided its employees with an artificial intelligence (AI) assistant developed in-house, which features state-of-the-art, secure technology and aims to assist purchasing managers in the ICT environment. The assistant, called LexIA, increases employees’ analytical capabilities fourfold, reduces the time needed to consult the contractual terms and conditions of any document, and enables the development of an intelligent repository where quick…


bbva sabadell

BBVA to readjust Sabadell takeover bid exchange ratio at end of month

Link Securities | BBVA (BBVA) will readjust the exchange ratio of its takeover bid for 100% of the capital of Banco Sabadell (SAB) at the end of the month to update the offer, as SAB will distribute a new cash dividend of 7 euro cents per share to its shareholders on 29 August, according to Cinco Días newspaper. The bank will thus move from offering one BBVA share plus 70…


Telefonica Prosegur

CNMC announces full liberalisation of Telefónica’s fibre optic networks

Bankinter | Telefónica (TEF) will no longer be obliged to lease its networks to rival operators at a regulated price. This liberalisation process began in 2016 when the National Commission for Markets and Competition (CNMC) ruled that there was sufficient competition in 66 cities representing 35% of the population; in 2021, it extended liberalisation to 696 towns, covering a total of 70% of the population, and now the remaining 30%…


bbva sabadell

Analysts suggest BBVA could improve Sabadell bid by up to €2 billion

Alphavalue/DIVACONS | The financial institution chaired by Carlos Torres announced to the National Securities Market Commission (CNMV) that it is moving forward with its takeover bid for Banco Sabadell (SAB) (add Target Price €3.74/share), despite the recent confirmation of the sale of TSB for €3.1 billion and the approval of the €2.5 billion macro dividend. BBVA will update its offer at the end of August or early September. Some analysts…


banco santander new

Banco Santander teams up with OpenAI to accelerate Artificial Intelligence and Data strategy

Link Securities | Banco Santander (SAN) has redoubled its commitment to technology and has teamed up with OpenAI to accelerate its Artificial Intelligence and Data strategy, according to Expansión newspaper. Santander has signed a collaboration agreement with the company that created ChatGPT with a view to becoming an ‘AI-native bank’ in which ‘every decision, process and interaction is driven by data and intelligent technology,’ explained Ricardo Martín Manjón, SAN’s Director…


Talgo

Talgo receives technical approval for its long-distance trains to begin operating in Germany

Renta 4 | The Spanish train manufacturer has announced that it has just received technical approval from the European Railway Agency (ERA) and the German Federal Railway Agency (EBA) for its 230 model long-distance trains to begin operating in Germany before the end of the year, although with a delay of more than a year. The approval is the final step in a process that began in 2019 with the…


bbva sabadell

BBVA decides to press ahead with Sabadell bid

Renta 4 | BBVA (BBVA) has confirmed in a significant event, following the Extraordinary General Shareholders’ Meeting held by Sabadell at which the sale of TSB and the distribution of an extraordinary dividend of 50 cents were approved, that it has decided to press ahead with its takeover bid for Sabadell. Assessment: We believe that this decision to go ahead is in line with expectations. Currently, the exchange ratio puts…


ACS new

ACS and Vinci sign agreement to dissolve joint venture in renewable energy

Intermoney | ACS (Buy, PO €63) announced last Friday after the market closed that it had reached an agreement with French company Vinci to dissolve their joint venture for the development of renewable energy capacity. This JV arose from the French company’s purchase of ACS’s Cobra industrial services business for around €5 billion, announced in 2021. Friday’s agreement specifies a final payment by Vinci of around €300 million, which, according…