In three months, Barclays has cut its price target for Telefónica on four occasions, from 9,8 euros/share in December to 9 euros/share last time round, on March 19. That’s almost 10% lower. How can a company’s value change so much in such a short space of time?
ACS has won a contract worth 1 billion euros, related to one of the biggest hydroelectric projects in Canada’s history, boosting its presence in North America, its main market.
Criteria, La Caixa’s investment arm, and Abertis’ largest shareholder with 21.55%, will take up the offer launched by ACS, Hochtief and Atlantia and will sell the whole of its stake in the Spanish concessionaire.
So here is the final chapter in the story of the bid for Abertis: ACS and Atlantia have agreed to share management of the new company they will create to buy Abertis, in which they will each hold a 50% stake. Both companies want to keep the current management team. The chairman will be Spanish and Abertis’ HQ will be in Madrid.
The US President has approved a discretionary imposition of tariffs on steel (25%) and aluminium (10%). So what does this mean for Spanish domestic manufacturers Arcelor and Acerinox?
The three big electricity companies with operations in Spain, namely Iberdrola, Gas Natural Fenosa and Endesa, earned 5.627 billion euros in 2017, up 3% from a year earlier.
Spain’s Stock Market Watchdog (CNMV) has finally given its green ligth to the bid from Hochtief, a subsidiary of ACS, for Abertis. The authorisation comes after the news of the talks between ACS and Atlantia aimed at reaching an agreement to put an end to the “bidding war”.
Atlantia and ACS could cease to be rivals in their bid for Abertis and become collaborators in the acquisition. The two companies acknowledged they had had initial talks, as a result of which they would jointly buy Abertis and share out its assets.
BBVA will invest 96 million euros to raise its stake in UK mobile bank Atom to 39 pct, the Spanish bank said in a statement.
Acciona has been awarded a contract to design and build a desalination plant in Jebel Ali worth 250 million dollars (200 million euros). The contract was awarded by the Dubai Water and Electricity Authorities.