Banc Sabadell : The board of Cellnex (CLNX) on 26 April will proceed to appoint a director representing TCI (9.4% of CLNX), probably Jonathan Amouya (TCI partner) as requested by the fund in its letter. It is also expected that an additional independent director will be appointed to restore the number of directors to 11, following the departure of Bertrand Kan and Peter Shore. After the incorporation of the proprietary…
Renta 4 | Aena (AENA) publishes traffic statistics for Spanish airports for March. Although passenger figures slowed slightly compared to January and February, March traffic levels again exceeded (+0.6%) 2019 levels, reaching 20.1 million passengers, thus improving expectations by nearly 10%. Domestic passengers were 4.4% above 2019 (February above +6%), while international passengers were 1.6% below 2019 levels (February flat vs 2019). The number of flights exceeded 2019 levels by…
Intermoney: Ferrovial’s Shareholders’ Meeting will debate and vote today on the Board of Directors’ proposal to move its registered office to the Netherlands, in order to be able to list on Wall Street without having to resort to ADRs. The proposal, announced on 28 February, has caused considerable political turmoil. In the event that the measure is approved, shareholders who oppose it could exercise their right of separation by selling…
Alphavalue / Divacons | FCC Ambito, a subsidiary of FCC Servicios Medio Ambiente, and Iberdrola, through its Perseo Venture Builder programme, will work with Glencore to provide industrial-scale lithium-ion battery recycling solutions in the Iberian Peninsula through the development of a specialised facility, the three companies announced yesterday. At the factory, whose location is yet to be defined, these energy storage devices could find a second life. Recycling of battery…
Alphavalue / Divacons | Last week the Spanish hotel chain was very optimistic about what will happen this Easter, in which after the recovery of tourism at international level, Meliã expects to improve the sales data recorded in 2019 by more than 20%. Particularly noteworthy are some national destinations such as the Canary Islands, where hotels have improved their occupancy and reached historic average figures. This was revealed by Meliã’s…
Alphavalue / Divacons | Sareb has completed a decade since its creation. With the results known since 2022, the entity has already reduced the debt guaranteed by the State by €20,301 million, 40% of the total, so that at the end of 2022 the outstanding debt was €30,481 million. Since 2021, the State took control of the company through the FROB (Spanish Executive Resolution Authority), and its debt has had…
Singular Bank | Atos is in the process of splitting itself into an IT services unit and Evidian, which it plans to float this year. The restructuring would give Atos shareholders 70% of Evidian, and Atos plans to sell the remaining stake to finance its own transformation. Many Airbus shareholders commented their disagreement on the potential investment after it was made public last month, as it could be an inefficient…
Morgan Stanley | Our analyst, Laura Metayer, believes that the Hospitality & Other solutions division is Amadeus’ fastest growing segment (AMS), which is made up of its centralised reservations product (CRS), leading a €1.8bn market, and the newer hotel management system (PMS) in a €2.2bn market. The analyst team estimates that the hospitality IT market, with a size of €7.4bn MSe and growth of >8% CAGR, is moving towards a…
Link Securities | In an interview with the Financial Times, reported by Expansión, Inditex (ITX) Chairman and CEO Marta Ortega outlined a continuity in management based on improving the shopping experience and the efficiency of the group’s operating model, while maintaining the focus on sustainability. Ortega said that the product is the lifeblood of the group and where she can offer the most value, while she is on top of…
Link Securities | TCI, the British fund that has become Cellnex’s main shareholder with 9% of the company, is increasing pressure on Bertrand Kan, who on Monday was relieved of the presidency of the company, to leave the company’s Board of Directors immediately. The fund believes that Cellnex must urgently focus on electing a new CEO, and among the possible candidates, the newspaper Expansión highlights in today’s edition that Marco…