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In Spain 7th July 2025

PSOE Federal Committee: Sánchez Says Captain Does not Abandon Ship in Storm (If Necessary, He Sinks With It)

Permanently blackmailed by his legislative partners—ranging from the far-right Catalan party Junts to the communists of Sumar or the heirs of ETA—the PSOE has been unable to present a budget in two years, and the processing of every law has become an impossible mission. It was known that governing after losing the elections, with impossible alliances, would lead to an impossible labyrinth. The dead end we find ourselves in today….

In Spain 4th July 2025

United Arab Emirates organising summit in Madrid to propose stronger investment in renewables and revive interest in Naturgy

Link Securities | The United Arab Emirates is organising a summit in Madrid on 8 July where it will propose strengthening its investment in renewables and reviving its interest in Naturgy (NTGY), following the failed takeover bid in 2023 alongside CriteriaCaixa. Abu Dhabi has €30 billion to invest in Spain, and recent changes at Criteria, with Francisco Reynés at the helm, could facilitate new negotiations. Other major Naturgy shareholders, such…

In Spain 4th July 2025

Duro Felguera attempts to agree on restructuring plan before 31 July to avoid bankruptcy proceedings

Link Securities | Duro Felguera (MDF) reports that the company’s objective is to agree on a restructuring plan with its creditors before 31 July, the date authorised by the judge handling the proceedings, in order to avoid bankruptcy. If a restructuring plan is agreed, MDF will request its judicial approval. The restructuring plan involves a risk for shareholders, as it could affect the company’s financial position. At the date of…

In Spain 4th July 2025

Spanish Government to Announce Public Employment Offer of Up to 27,000 Positions, 15% fewer Than in 2024

The Spanish government will release a Public Employment Offer (OEP) this year for up to 27,000 positions for the General State Administration (AGE), a 15% decrease compared to last year’s offering. The CCOO trade union, which did not support last year’s OEP—considering it insufficient—estimates around 27,000 positions, with 16,500 being newly created. These figures do not include positions for the Armed Forces and State Security Forces. The reduced number of…

Spanish economy 3rd July 2025

Elliott Management increases stake in Repsol to 1.35%, equivalent to investment of almost €200 million

Link Securities | Activist fund Elliott Management, which last March burst onto the scene by acquiring a stake in Repsol, Spain’s leading oil company, continues to climb the ranks, Expansión reports today. According to National Securities Market Commission (CNMV) records, it now holds 1.35% of Repsol’s capital, which at current prices is equivalent to an investment of almost €200 million. In half a dozen successive transactions since March, the fund…

Spanish economy 3rd July 2025

Spain welcomes 9.4 million international tourists in May, 1.5% more than in same month last year

CdM | Spain received 9.4 million international tourists in May, 1.5% more than in the same month last year, whose total expenditure reached €12.254 billion, an increase of 4.9%, according to data published by the National Statistics Institute (INE). The United Kingdom was the main country of residence, with almost 2.1 million tourists and an increase of 7.3% compared to May 2024. France accounted for 1.2 million (down 6.7%) and…

In Spain 3rd July 2025

Council of Ministers approves additional €351-million investment in Aena’s current five-year investment plan

Link Securities | The Council of Ministers has approved an additional investment to those planned in Aena’s (AENA) current five-year investment plan (known as DORA II, Airport Regulation Document 2022-2026) worth €351 million. These are investments that could not be foreseen before the approval of this Dora II and which bring forward necessary actions that would, in any case, be carried out in the next Dora III period (from 2027…

Spanish economy 2nd July 2025

Banco Santander agrees with Sabadell to purchase TSB for €3.1 billion, €470 million synergies expected

Renta 4 | Banco Santander (SAN) has reached an agreement with Banco Sabadell for the purchase of TSB. The payment will be made entirely in cash for an amount of £2.65 billion (cclose to €3.1 billion versus €2.5 billion R4 estimate). They estimate that cost synergies of >£400 million will be achieved by 2028 (c.€470 million), representing 13% of the combined cost base of both banks in 2024. To this…

In Spain 2nd July 2025

Brussels Urges Spain to Accelerate Next Gen EU Funds, Citing Only 30% Received Compared to Italy’s 72%

Spain’s Minister of Economy, Carlos Cuerpo, has been stuck for months in negotiations with Brussels over the fifth payment of the Next Gen EU funds, totaling €23.9 billion: €8 billion in grants and €15.9 billion in soft loans. Because Pedro Sánchez’s government did not request the loans from Brussels until March 2023, Spain has only received €47.96 billion in grants and €340 million in loans so far. This means a…

In Spain 2nd July 2025

Santander Buys TSB from Sabadell for €3.1 Billion

Banco Santander—currently the UK’s fourth-largest mortgage lender—will pay £2.65 billion (approximately €3.1 billion) in cash for TSB, the ninth-largest bank in the country. In addition to this, Sabadell will receive the €300 million that TSB is expected to earn until the transaction closes during the first quarter of 2026. This deal will allow Sabadell to pay €3.8 billion in dividends (equivalent to 1/6 of the bank’s capitalization) over the next…

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