MADRID | By Julia Pastor | Repsol’s Board of Directors will consider a proposal from the Argentinian government according to which Repsol would drop their dispute on YPF without any economic compensation and be given in return some stake of a joint venture company to develop 6% of Vaca Muerta’s field oil and gas reserves.
MADRID | The agreement is expected to positively impact reduction of Telefonica’s net debt position by about 780 million euros, without considering the additional deferred payment.
MADRID | By Quesada Vargas | Madrid is considering the listing of AENA airports authority, the world’s largest, managing 46 airports in Spain, including Madrid’s Barajas and Barcelona’s El Prat. The key element is that the Spanish government is to shield 50pc of the agent’s equity and its effective control. Will investors get cold feet?
MADRID | By Julia Pastor | The rumour about a friendly takeover bid from the US telecomunications group AT&T to acquire 100% of Telefónica has moved the Madrid Stock Exchange on Monday. The offer would have included a payment of €70 billion as well as the absortion of Telefónica’s €52 billion debt.
LONDON/VIDIN | The new Danube Bridge, which took six years to build, connects Vidin (Bulgaria) and Calafat (Romania). This project represents an investment of 275 million euro – partially funded by the European Union
MADRID | By Julia Pastor | The Spanish company’s net profit in 1Q13 came to €438 M, which means a growth of 2% compared to last year same period , when Inditex exceded all expectations. Net sales rose by 5% to €3,59 Bn. Its financial position remains solid with € 3,66 Bn.
MADRID | By Iñigo Villegui at Capitalmadrid | As unrest rattles in Turkey, markets reportedly experienced their worst day in years on Monday, the lira moving into the red and government bonds suffering major losses. Brokers interested in BBVA are fearing this turmoil can harm the Spanish bank, which since 2010 has a 24.9% stake in the first Turkish bank, Garantí.
BERLIN | Pull&Bear is joining Zara, Massimo Dutti, Zara Home and Bershka which already operate in this market, where Inditex Group has presence from 1999.
SEVILLE | Abengoa’s project is a 440 megawatt (MW) combined cycle power generation plant that will supply half the population of Portland, Oregon.
MADRID | The Innside hotels respond to increasing demand from discerning and sophisticated city travellers prompted by the country’s economic growth.