Energy giant axes £4bn UK turbine project
LONDON | By Terry Macalister at The Guardian via Presseurop | UK’s green plans dealt blow by shelving of Atlantic Array, which would have powered 1m homes and created thousands of jobs.
Companies
Globalvia and Sacyr Win €35m Dublin Motorway Contract
DUBLIN | The Corner Team | Globalvia, the infrastructure investor and operator owned by the global infrastructure group FCC and Bankia (formerly Caja Madrid), has been awarded a €35m contract for the operation, maintenance and renewal of 161km of motorway segments in the Greater Dublin area in Ireland alongside Sacyr.
Telefónica to inject €1.5-2Bn Cash in Telecom Italia
MADRID | By Julia Pastor | Telecom Italia needs to reorganise its balance sheet via a capital increase, a dividend cut or a sale of assets. Spanish Telefónica, which has a 22.4% stake of the Italian firm through Telco, may be willing to help the company by a convertible securities issue or the participation in that capital increase.
Telefonica to Sell its Czech Stake for $3.6 Billion
MADRID | The Corner Team | Telefonica is preparing a sale of its stake in the Czech Republic’s biggest phone company to raise cash for further industry consolidation, according to three sources familiar with the deal who preferred to stay anonymous. The stake had a market value of about $3.6 billion before Monday’s increase. The stock rose as much as 6.9 percent.
Telefonica and Telecom Italia: Peace Of Mind Worth $437M
The Corner Team | The deal for Spain’s Telefonica to raise its stake in Telco and control Telecom Italia will be ready before Friday, according to Economía Digital. An operation that prevents Carlos Slim, through America Movil, or American competitor AT&T from taking positions in the Italian market. Telefónica’s peace of mind is worth 324 million euros ($437 million).
Telefonica in Talks to Buy Telecom Italia
The Corner Team | Spanish Telefónica is in talks to become the main shareholder of Telco, Telecom Italia’s holding company, which is struggling with a millionaire debt and a fiercely competitive market, Dow Jones reports. The proposal under discussion would have Telefónica increasing its stake to 70% before next week.
H&M Gaining Ground Over Inditex Zara?
MADRID | By Tania Suárez | Spanish company Inditex –Zara’s group and the world’s largest clothes retailer- published its first semester fiscal year results on Wednesday. After years of amazing performance, the firm seems to be losing market – it posted a 6% rise in sales to €7.7 billion, compared with a 17% rise in the same period last year.
Spain’s Telefonica lands £1.5 billion smart meter contract in the UK
LONDON/MADRID | Telefonica UK selected as preferred communications service provider for Central and Southern regions in UK Smart Meter Implementation Programme.
ACS’ German subsidiary Hochtief returns to profit
ESSEN | Consolidated net profit amounted to EUR 126.2 million in the first half of 2013. In the prior-year period, substantial impacts on earnings had resulted in a consolidated net loss of EUR 50.6 million.
Endesa obtains sustainability recognition for its offices in Spain
MADRID | Endesa’s head office in Madrid was the first corporate headquarters in Spain to achieve triple certification in 2011.