Will Correos follow Deutsche Post’s privatisation model?

By Sergio Sáiz | | SEPI, the State organisation that holds public stakes in Spanish companies, could obtain between €700 million and €2.5 billion with the privatisation of the national postal group Correos. It will depend on the formula used to sell it. The case of Deutsche Post could be a model to imitate. Correos has a staff of around 62,000 people. This point, which could be an engine for employment in Spain,…

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Santander agrees to Seamill Hydro resort £3-million refinancing

LONDON | Ayrshire hotel and resort Seamill Hydro in Scotland will on Thursday be unveiling its new hospitality services after having secured capital support from Santander Corporate Banking. The refurbishment of the restaurant is part of the hotel's wider regeneration programme, backed by a new £3 million refinancing agreement with Santander Corporate Banking. The hotel has been owned and operated as a partnership by two generations of the Sweeney family since 1985….

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Abertis closes the sale of 7% of Eutelsat to China Investment Corporation

MADRID | Abertis said on Monday it had agreed to sell 7% of Eutelsat to China Investment Corporation (CIC) for €385.2 million. The transaction, which generated net capital gains of €237 million, follows Abertis’ January sale of 16% of Eutelsat in a private placement among qualified investors. Abertis will remain a Eutelsat shareholder, with a stake of 8.35%. In compliance with the terms agreed by Abertis in the recent placement of a 16% stake in…

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Inditex acquires Zara store premises in London’s Oxford street

How to make wife jealous LONDON | Inditex confirmed it has acquired the premises of Zara flagship store at the intersection of Oxford and New Bond streets in London, one of the top fashion retailing destinations worldwide. The 7,000-square-metre property is home to one of the most emblematic Zara stores in the world. The building has 3,155 square metres of prime retail space and 3,855 square metres of prime office…

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FCC’s Alpine reaches €1 billion-worth contract line in 2012

MADRID | In a bid to offset its exit from the Greek market, Alpine, FCC's subsidiary in Central and Eastern Europe, said it will concentrate a commercial offensive in its domestic markets. Alpine would have unpaid bills in Greece of up to €20 million, according to the Spanish press reports. At a news conference in Gdansk, the company's new CEO Johannes Dotter announced that the company had already landed contracts worth close…

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Inditex to invest €290 million in Spain

MADRID | The Inditex Group reported Wednesday net sales in the first quarter of 2012 February to April of €3.4 billion, 15% higher year-on-year (14% in local currencies). Net income amounted to €432 million, 30% more than in the first quarter of 2011. The Spanish company said it had opened 91 new stores during the quarter, bringing the total store base to 5,618. The new stores were opened in 26 markets. In a…


Telefónica, Vodafone to jointly operate a single network grid in the UK

my ex girlfriend is in a relationship MADRID/LONDON | Telefónica UK and Vodafone UK on Thursday announced plans to strengthen their existing network partnership, by pooling the basic parts of their network infrastructure to create one national grid running each operator’s independent spectrum. The project will create two competing networks offering indoor 2G and 3G coverage targeting 98% of the UK population by 2017, mobile coverage and mobile internet services to…


Solaria develops a €60-milion 60MW plant in Toledo in Spain

Recently Broke Up But Want To Get Back Together What Do I Do MADRID | Solaria Energía, the only solar company listed in the Spanish stock market, announced it will begin the development of a 60 MW photo-voltaic field plant in the area of Calera y Chozas, in the province of Toledo in Spain. The plant will dump its output into the local grid at the corresponding market tariff, with no…

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Lenovo expands capital in Spanish branch

MADRID | Lenovo, the Chinese PC giant, recently carried out two capital injections in its Spanish subsidiary. According to the business daily Cinco Días, on April 24 there was a capital increase of €36 million, with the total capital subscribed resulting in €37.47 million. A few days earlier, the company had made another injection of capital of €1.29 million. Isla Ramos, CEO of Lenovo in Spain, explained that such capitalisation is linked…


Spain’s €30-billion privatisation plan to affect AIG, Renfe among others

The Spanish government estimates it may take in up to €30 billion through an “ambitious” privatisation plan which will be passed before summer, reported news agency Europa Press on Monday. This new government plan, which completes the reforms that have already been approved as well as other further measures (the single market, or the entrepreneurship law) will affect all the ministries and enable private initiatives to enter in a large number…