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Cellnex new

Companies, Ibex 12th August 2024

Cellnex continues with divestment plan of non-strategic assets and sells business in Austria for €803 million

Bankinter | Cellnex (CLNX) has reached an agreement to sell 100% of its business in Austria, its subsidiary On Tower Austria, for €803 million. Part of the payment (€272 million) will be deferred in December 2028. Opinion of the Bankinter analysis team; Good news for Cellnex. This divestment is part of the process of selling non-strategic assets and will allow Cellnex to continue reducing debt, with the objective of reaching…

Acciona energia

Companies, Ibex 9th August 2024

Acciona buys Darby’s network business (1,200 km of power lines and 30 substations) in Peru for €220 million

Banc Sabadell | Acciona (ANA) has reportedly reached an agreement to acquire Darby’s network business in Peru, which would include 1,200 km of high-voltage lines and 30 substations in a 30-year concession project. The deal is reportedly worth €220 million. Acciona currently manages 820 km of high-voltage lines and more than 20 substations in Peru. Assessment: Positive news with limited impact due to the size of the transaction (~1.1% of…

eeuu europa banderas

In the World, Markets, Relevant News Item, World economy 9th August 2024

Latest US employment data confirms business cycle divergence with Europe

Renta 4 : European stock markets open moderately higher (Eurostoxx futures +0.3%) after positive US closes, in a session where the S&P 500 posted its best daily performance since November 2022. Yesterday’s better than expected initial jobless claims in the US (233,000 4-week low) helped to alleviate some fears about the US labour market. This helped equity markets, and we also saw a steepening in fixed income, with the US…

repsol refineria exterior

Companies, Ibex 8th August 2024

Libyan National Oil Corporation confirms production cuts due to protests at Repsol’s Sharara oil field

Link Securities | The Libyan National Oil Corporation (NOC) confirmed on Tuesday the reduction in crude oil production due to a blockade by protests at the Sharara oil field, the most important in Libya operated by the Spanish company Repsol (REP), as elEconomista reported. The social leader of the Libyan region of Fezán, Bashir Sheikh, who has claimed responsibility for blockades in the past, disassociated himself two days ago from…

telefonica letrero entrada 1024x648 1

Companies, Ibex 8th August 2024

UK private equity fund Marshall Wace increases its bearish bet on Telefónica to 1.21%

Link Securities | British private equity fund Marshall Wace has increased its bearish bet on Telefónica (TEF) to 1.21% from 1.12%, according to Bolsamania.com. Never before has Marshall Wace had such a large bearish position. According to the National Securities Market Commission (CNMV), the bearish fund first took a short position of 0.5% in April 2024, but has been increasing in recent weeks. Marshall Wace’s entry coincides with the increase…

Indra Tecnocom

Companies, Ibex 8th August 2024

Indra buys space subsidiary Deimos from Elecnor for around €20-25 million

Intermoney | Indra (IDR) has acquired the Deimos company from Elecnor, a subsidiary specialised in the development of space missions and satellite integration, according to several media. It has subsidiaries in the UK, Portugal, Italy and Romania. The price has not been made public, but could be in the region of €20-25 million, according to the press. Deimos has a strong position with space institutions, participating in national and European…

Telefonica novisima

Companies, Ibex, Relevant News Item 7th August 2024

Telefónica buys 5G frequencies from Masorange in 3.5 GHz band; price could reach €63 million

Bankinter | Telefónica is buying frequencies in the 3.5 GHz band , which is the standard for the bulk of 5G traffic, from Masorange. Both companies have submitted the formal request for the transfer to the Ministry of Digital Transformation. Opinion of Bankinter’s analysis team: The sale of frequencies by Masorange falls under the “remedies” or conditions imposed by the EC for the authorisation of the merger between Orange and…

Iberdrola guapa

Companies, Ibex 7th August 2024

S&P, Fitch and Moody’s estimate Iberdrola’s €5 billion acquisition of 88% of ENW will improve earnings structure

Link Securities | The world’s major rating agencies have given the go-ahead to Iberdrola ‘s (IBE) biggest deal in recent years. Standard & Poors (S&P), Fitch and Moody’s estimate that the acquisition of 88% of British grid operator Electricity North West (ENW) for around €5 billion will improve the electricity company’s earnings structure, elEconomista reported on Tuesday. S&P expects ENW to contribute €500 million annually to IBE’s EBITDA (+3.5% versus…

Sacyr

Companies, Ibex 7th August 2024

Sacyr awarded concession for Northern Airport Network in Chile

Intermoney | As reported Tuesday by the company, Sacyr (SCYR) (Buy, PO €4.4) has been awarded the concession of the Northern Airport Network of Chile, which includes the airports of Atacama and Antofagasta. The consortium is made up of Sacyr Concesiones (70%) and Cointer (30%). The contract covers the operation and expansion of the two terminals of both airports. The concession foresees an investment of approx. €266 million and has…