On Monday, PharmaMar joined the Ibex 35, the main Spanish stock market index. It will will be composed of 34 stocks until October 19th, following the exclusion of MásMóvil after Lorca Telecom Bidco’s takeover bid. The Ibex 35’s Technical Advisory Committee unexpectedly announced on 10 September that PharmaMar would replace Ence in that index. Since then, the company’s share price has risen by more than 17% to 103.8 euros at last Friday’s close, recovering its July levels.Read More
The consortium participated by Telefonica, along with its two rivals Mexico’s América Móvil and Italy’s TIM, has qualified as a stalking horse or first bidder in the race to buy Brazil’s Oi’s mobile business. The qualification as first bidder gives the consortium the right of first refusal if a higher competitive offer is made.