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In Spain 21st January 2025

Indra Board appoints Angel Escribano as executive chairman and board member following Marc Mutra’s departure to Telefónica

Intermoney | On Saturday afternoon, Telefónica (TEF) informed the National Securities Market Commission (CNMV) that it was dismissing its current chairman, Jose María Álvarez-Pallete, and appointing Marc Murtra (current chairman of Indra) as the new chairman. Indra (IDR) yesterday issued a statement announcing the resignation of its current chairman, and also announcing the appointment of Ángel Escribano as the new executive chairman. Escribano is co-founder and owner with his brother…

In Spain 20th January 2025

Government takes control of Telefónica

Last Saturday, in an extraordinary meeting, the board of directors of Telefónica accepted the resignation of Álvarez Pallete – agreed upon the day before at Moncloa – and the appointment of Marc Murtra, who was until then the president of Indra. Murtra had similarly ascended to the presidency of Indra after a government maneuver. Murtra, a man close to the PSC, finds himself with a company whose shares are trading…

In Spain 18th January 2025

Caixabank issues €1 billion worth of perpetual convertible preference shares at 6.250% p.a. until 24 January 2033

Renta 4 | The entity has approved the issue of perpetual preference shares convertible into newly issued shares of CaixaBank (CoCos), excluding pre-emptive subscription rights, in the amount of €1,000 million. The issue will be carried out at par and the remuneration, the payment of which is discretionary and subject to certain conditions, has been set at 6.250% per annum until 24 January 2033. Thereafter, it will be reviewed every…

In Spain 17th January 2025

With average rent at €1,072 and young people earning €1,048 on average, only 14.8% manage to become independent

The first half of 2024 closed with a decrease in independence, dropping from 16.3% to 14.8% of young people – aged between 16 and 34 – residing in Spain over the course of a year. This means there are 62,458 fewer young people living outside their family home than a year ago. It is the lowest figure since data on independence has been available – since 2006 – despite an…

In Spain 17th January 2025

HBX Group expects to be listed on Continuous Market on 12 February with €5-6 billion valuation

Link Securities | The tourism company formerly known as Hotelbeds and dedicated to the sale of hotel rooms and flats to tour operators and travel agencies, will announce this morning its intention to start trading on the Continuous Market by filing with the National Securities Market Commission (CNMV) the document known as ITF (intention to float), as indicated by several market sources to the newspaper Expansión. The tentative timetable for…

In Spain 16th January 2025

Housing Ministry leaves 60% of budget -€2.4 billion-unspent

In the 2023 electoral campaign, the President of the Government, Pedro Sánchez, committed to the construction of 184,000 homes, about which there has been no further news. Apparently, only 5.5% of those already built and pending sale in the so-called ‘bad bank,’ a result of the financial crisis, have been delivered. So this week he has intensified announcements with twelve measures (https://goo.su/dwcN2Cq ) that aim to alleviate a problem that…

In Spain 16th January 2025

Michael J. Fox Foundation donates Grifols $21 million to research new diagnostic tools for Parkinson’s disease

Link Securities | The Catalan blood products company has received a $21 million grant from the Michael J. Fox Foundation (MJFF) for Parkinson’s Disease Research to identify plasma-based biomarkers that could indicate a person’s likelihood of developing Parkinson’s disease (PD) “many years before” clinical diagnosis. The initiative, dubbed ‘Chronos PD’, could accelerate the discovery of new diagnostic tools, as well as the identification and development of novel therapies that modify…

In Spain 15th January 2025

Price of housing rises 4.6% in Spain in 4Q24

Link Securities | According to Tinsa’s IMIE General and Large Markets index, the price of housing in Spain rose by 5.5% in December in year-on-year rate, the Expansión newspaper published yesterday. The final figure for December puts the year-on-year change in house prices in 4Q2024 at 4.6%, two tenths more than the provisional 4.4% published on 30 December in the IMIE Local Markets statistics. In the annual accumulated, all groups…

In Spain 15th January 2025

New Government Housing Plan, with tax penalty for purchases by non-EU citizens

The Government is considering a special tax or a surcharge on the Transfer Tax to limit the acquisition of houses in Spain by non-resident non-EU foreigners, who mainly buy along the coast. Non-resident foreigners purchase 55,000 houses per year, compared to the 90,000 that are built. This is one of the most innovative measures of the housing plan that the President of the Government, Pedro Sánchez, announced on Monday in…

In Spain 14th January 2025

Ferrovial begins refurbishment and extension of Ter drinking water station

Alphavalue / Divacons | The Spanish construction, services and concessions company, and Construcciones Rubau, began work last Friday on the extension and rehabilitation of the Ter drinking water treatment plant (DWTP), one of the largest drinking water treatment plants in Catalonia. The project, commissioned by Ens d’Abastament d’Aigua Ter-Llobregat (ATL), will be carried out by Ferrovial’s water infrastructure subsidiary Cadagua and Rubau’s Arema. The project has a budget of €102…

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