News about Spain | The Corner.eu

Spanish economy 18th June 2021

Acciona Energy To Go Public At 26-29 €/Share

Acciona has already announced the price range, which will oscillate between 26.73 and 29.76 euros per share, for the flotation of 15-25% of its subsidiary, Acciona Energía. This represents a valuation of between 8.8 and 9.8 billion euros (above the stock market value of the parent company, which at close yesterday was 7.5 billion euros). Translated to enterprise value (equity plus debt), the price represents a valuation of 11.9-12.9 billion euros. The stock market debut is expected to take place between June 28 and July 1.

Spanish economy 18th June 2021

Waste Law Will Reduce Plastic Pollution In Spain By 70% By 2030

Portocolom | Reducing plastic waste by 70% by 2030 is the aim of the draft Waste Law and to achieve this it includes two taxes on plastic and the obligation to offer tap water in hotels and restaurants, among other measures. The Council of Ministers has given the green light to the draft Law on Waste and Contaminated Soil, and it is pending in the Parliament. The current pandemic has accentuated this contamination by plastics: masks, gloves, food packaging, etc., worsening the situation that we already had. 75% of this plastic will find its way into landfills and the sea. A serious cost to the environment and the economy.

Spanish economy 17th June 2021

Telecoms: CNMC Authorises MásMóvil’s Buy of Euskaltel

The MásMóvil takeover bid, at 11.17 euros per share (with a 27% premium over the last six months of trading) was announced on March 28. It involves the payment of almost 2 billion euros, as it is a full cash transaction. The success of the takeover bid – conditional on 75% of capital – seems guaranteed, as 52% of Euskaltel’s capital has already expressed its intention of accepting the offer.

Spanish economy 17th June 2021

Brussels Approves Spain’s Recovery Plan, Which May Receive The First 9 Billion In July

This approval will allow Spain to receive as early as next month, after Ecofin’s approval, 9 billion euros as an advance on the 69.5 billion requested. (The rest of the NGEU funds allocated to Spain, up to 140 billion euros, are loans and have not been considered for the time being).According to Brussels’ calculations, Spain should receive another 10 billion euros before end-2021, although this delivery will be subject to the fulfilment of almost fifty objectives. After that, Spain will be able to release new tranches every six months, as it meets a series of targets agreed with the European Commission.

Spanish economy 17th June 2021

Spanish Regions Will Need More Than €35 Bn For Social Spending Until 2030

The pandemic has added pressure on the spending of the Autonomous Communities, which represents a third of the public spending of all administrations. Around 68% of this expenditure borne by the regions goes on basic social services: health (37%), education (24.5%) and social protection (6.5%), affected both by the current health crisis and by the long-term impact of the progressive ageing of the population on spending and the low birth rate on income. A study by Funcas outlines a possible scenario for regional social spending and identifies the headings that will be under the greatest upward pressure in the coming years.

Spanish economy 16th June 2021

Spain Pays The Most Expensive Electricity In Europe

Spain paid an average of 88.47 euros/megawatt hour on Monday, close to the highest price of the year during the winter storm Filomena. With momentary peaks of up to 95 euros per megawatt hour. The same price was paid in Portugal – which is part of the so-called “Iberian Electricity Market” – but there the final price is lower because it applies 6% VAT, compared to 21% in Spain. In…

Spanish Politics 15th June 2021

The Spain-US Agreement On The Rota And Morón Bases Was Extended In May… Automatically

The Spanish press is full of jokes and laughs about the half-minute walk that US President Joe Biden had with Spanish Prime Minister Pedro Sánchez after the family photo at the NATO summit. A more than brief meeting that Sánchez’s advisers – always predisposed to propaganda – had ‘sold’ as a sign of the good relationship between the two countries. The most critical newspapers talk of contempt for Spain. They…

Spanish economy 14th June 2021

Spanish Public Debt At An All-Time High: Eur 1.39 trillion

According to data from the Bank of Spain (BdE) released on Friday, the debt of Spanish public administrations as a whole rose in Q1’21 to 1.392,733 trillion euros, a record high. This figure represents 125.3% ofof Spain’s Gross Domestic Product (GDP). In the last year, public debt has increased by 168.213 billion euros, which represents an increase of 13.7%. It should be recalled that at the end of 2020 this…

Spanish Politics 14th June 2021

Ione Belarra Wins Podemos Succession”Bulgarian Style”

The Minister for Social Rights, Ione Belarra, has been elected as the new secretary general of Podemos, replacing Pablo Iglesias, with 88.69 percent of the votes cast in the party’s primaries. Of the 139,000 registered Podemos members with the right to vote in the IV Citizens’ Assembly held in Alcorcón (Madrid), 53,443 took part in the vote, of whom 45,753 opted for Belarra. Belarra competed with two other aspirants for…

Spanish economy 14th June 2021

Spanish Startup Wallbox Will Be Listed On NYSE Through A SPAC And With A Valuation Of €1.2 Bn

Barcelona-based electric car charger maker Wallbox will go public on the New York Stock Exchange through a special purpose acquisition company (SPAC) after reaching an agreement with Kensington Capital Acquisition Corp. II. The implied pro forma value of Wallbox as a result of the business combination is $1.5 billion, about €1.2 billion. In a statement, Wallbox said the deal will raise $330 M of financing (around 271 miilion euros) for them, including a fully underwritten private investment of $100 M (over 582 million euros).