VALENCIA | By Laura Garsando | In Spain alarms were raised no more than a month ago when two brands—Eroski Basic and Alipende— were found to be selling burgers with horsemeat not identified as such in the label.
MADRID/BARCELONA | Telefónica’s Executive Chairman and Chief Executive Officer César Alierta unburies the hatchet against the two giants, which in his opinion are abusing their power against customers’ interest.
MADRID | Thalys will be available alongside airlines on selected routes in the Amadeus neutral booking display for travel agents and corporate bookers.
MADRID | Repsol has sold its own treasury shares, amounting to 5% of the company’s stock, to Singapore’s Temasek for 1.036 billion euros. Together with existing shareholdings in Repsol, Temasek now owns 6.3% of Repsol’s outstanding shares.
MADRID | Telefonica basically focused on cutting down its risks by introducing extraordinary measures like asset sales and dividend cancellation. But indebtedness rates have fallen.
MADRID | By Carlos Díaz Güell | Some say the first step to solve a problem is to know what is it about. Although when it comes to Iberia, that has been having problems for more than two decades, it is not that simple. The once flagship Spanish airline had been denying its difficulties and its fundamentals rotted. Something that will be remembered in the history of aviation.
MADRID | Shell will acquire the assets for $4.4 billion in cash and will assume $2.3 billion in financial leases ($1.8 billion) and debt ($0.5 billion in non-consolidated investments.) The deal reduces net debt by more than half (excluding Gas Natural Fenosa) to 2.2 billion euros.
MADRID | The company sells its 75% stake in Iberdrola Renewables Polska, a holding which groups its wind power plants in Poland, as part of its divestment plans to be completed by 2015.
Ferrovial Services will double its presence in the country, where it operates through Amey. Enterprise will be integrated into Amey to create one company with over 21,000 employees and revenues in excess of 2.6 billion euro.
MADRID | The purchase includes 450 km of high-pressure gas pipelines and the international Irún connection.