Top Stories

In Spain

Telefonica novisima

In Spain 29th September 2024

Telefónica prepares to bring minority partner into newly created fibre-optic subsidiary with Vodafone

Banco Sabadell: According to press reports, Telefónica will launch in the coming weeks the process to bring a minority partner into the newly created fibre-optic subsidiary with Vodafone. The information indicates that the new partner would enter with a stake of around 40%, and Telefónica would be left with a majority stake of around 50% (thus leaving around 10% in the hands of Zegona, owner of Vodafone Spain). We recall…

Infla

In Spain 27th September 2024

Spain’s preliminary CPI drops to +1.5% year-on-year in September from +2.3% in August

According to the preliminary estimate from the National Statistics Institute (INE), the CPI slowed down in September in Spain to 1.5% year-on-year, decreasing below the minimum reached in June 2023 (1.9%) to mark the lowest figure since March 2021. The increase in the core inflation rate also moderated, in this case by three tenths (compared to eight in the CPI), down to 2.4%, the lowest since January 2022. The INE…

Social homes in Spain

In Spain 27th September 2024

House sales rise again, up 19.4% in July

With the advance of July, the sale and purchase of homes returns to positive rates after the year-on-year declines of 6.1% and 21.5% in May and June, respectively. The year-on-year increase in home sales in July is due both to the rebound in transactions for new homes, which rose by 38.6% year-on-year, the largest increase in three years, reaching 11,302 transactions, and to those involving used homes. The latter increased…

europastry

In Spain 26th September 2024

Europastry submits documentation again to try to start trading with valuation close to €1,500m

Norbolsa | The company seems to be trying again to go public, where today it will present the necessary documentation to do so. In addition, it seems that Criteria Caixa would be willing to subscribe shares in this operation, as announced on 21 June. We recall that Europastry is one of the largest bread and pastry production companies in Europe; valuations are around €1,500M; on the other hand, remember that…

grifols1 777x400 1

Spanish economy 26th September 2024

CNMV issues warning to Grifols, Gotham and General Industrial Partners fund for very serious breaches of law

Bankinter: The National Securities Market Commission (CNMV) has issued a warning to Grifols (GRF), Gotham and the General Industrial Partners (GIP) fund for very serious infringements. In the case of Grifols, according to the CNMV, the group provided information “with inaccurate or untruthful data or which omits relevant aspects in accordance” with accounting standards in the annual reports for 2021, 2022 and 2023, as well as in the accounts for…

Telefonica dos

Spanish economy 26th September 2024

Telefónica and Vodafone to sell 40% of fiber subsidiary for €800 million

Telefónica and Vodafone are accelerating their plans to bring in a minority partner to their newly created subsidiary that groups their optical fiber. The company chaired by José María Álvarez-Pallete aims to replicate the scheme it has implemented in other countries, and for this, it has hired two investment banks, Barclays and BBVA. The plan involves opening the capital up to 40% and leaving Telefónica with a majority stake. The…

Santander. new

Spanish economy 26th September 2024

Santander to pay interim dividend out of 2024 earnings of €0.10/share, almost 25% of H1 profit

Link Securities | In application of Banco Santander’s current shareholder remuneration policy, which consists of a total shareholder remuneration target of around 50% of the Group’s ordinary profit, distributed approximately equally between a cash dividend and share buybacks, the Board of Directors yesterday approved the payment of an interim cash dividend out of 2024 earnings of 0.10 gross per share, equivalent to around 25% of the Group’s ordinary profit in…

Sanchez

In Spain 25th September 2024

Sánchez negotiates new concessions to Puigdemont to save his 2025 Budgets

The Government was planning to put to a vote the same budget spending ceiling that sank in July this Thursday in the Congress of Deputies, but anticipating the same result, it has decided to rectify. The Government withdrew yesterday from the agenda the vote on the stability path, thus avoiding chaining another parliamentary setback and making another defeat visible in the chamber. “There is room for negotiation,” they explain in…

Naturgy edificio 640x420

Spanish economy 25th September 2024

Naturgy launches offer to buy back secured bonds for €1,000 million

Alphavalue/DIVACONS | The gas and electricity company has launched a buyback offer for a maximum amount of €1 billion, aimed at holders of several series of covered bonds maturing between 2025 and 2028, the company informed the Spanish Securities and Exchange Commission (CNMV) on Monday. In particular, through Naturgy Finance Iberia, the company has announced an invitation to the holders of a series of guaranteed bonds for an amount of…

Iberdrola

Spanish economy 24th September 2024

Iberdrola places €2.15 billion in bonds for the purchase of the British ENW

Iberdrola, with €45.153 billion in debt at the end of the first half, has just completed the largest senior bond issuance in its history, raising €2.15 billion in the markets. This is the eighth financial operation—between loans and bond issuances—that the company led by Ignacio Galán has carried out this year, totaling €5.925 billion.The senior bond issuance closed this Monday will, according to the company itself, finance its expansion in…