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telefonica gran via logo nuevo

Spanish economy 22nd February 2024

Telefónica confirms dividend (€0.30/share) despite ending 2023 with losses (-€892m) due to restructuring in Spain and impairment in UK

Telefónica (TEF) closed 2023 with a loss of €892 million due to extraordinary items, including the provision for the restructuring plan in Telefónica Spain and an impairment of goodwill in Virgin Media O2 (VM02). The operator’s ordinary net profit in 2023, excluding provisions and extraordinary items, grew 17.1% to €2,369 million. Group revenues rose 1.6% last year to more than EUR €40,000 million (€40,652 million). Net financial debt increased mainly…

orange masmovil

Spanish economy 21st February 2024

EU approves Orange-MásMóvil merger after agreeing remedies with Digi

The deal, valued at €18.6 billion, will create the largest operator by number of customers in Spain, with more than 7.3 million broadband customers, more than 30 million mobile services and more than 2.2 million television customers. The conditional EU approval for the merger of Orange SA and Másmóvil Ibericom SA, Spanish mobile phone companies, has taken almost two years to receive approval from Brussels, and given the significant competition…

santander sucursal 3CM

Spanish economy 20th February 2024

Santander increases cash dividend by 50% and will buy back nearly 1.5 billion shares

Banco Santander’s board of directors announced on Monday that it will vote at the next general shareholders’ meeting, scheduled for 22 March 2024, on a final cash dividend charged to 2023 of €0.095 per share. Thus, the total cash payment from last year’s accounts will be 17.60 cents, an increase of approximately 50% compared to the remuneration of the previous period. In addition, the bank will launch a share buyback…

exports spanish2

Spanish economy 20th February 2024

Spanish exports fall by 1.4% and imports by 7.2% in 2023

In 2023, exports of goods exceeded €383 billion (1.4% down on 2022), while imports reached €424 billion (7.2% less). This has meant that Spain’s trade deficit amounted to €40.56 billion in 2023, 43.3% less than in 2022. In 2023, non-energy exports increased by 0.7%, which partially offset the 20.6% drop in the energy segment. In this respect, it is worth noting that energy imports, especially gas, decreased compared to 2022….

Applus

Spanish economy 19th February 2024

CNMV admits Amber EquityCo’s counter-offer for Applus+ for processing

Link Securities| The National Securities Market Commission (CNMV) agreed on 16 February 2024 to admit for processing, in accordance with the provisions of article 17 of Royal Decree 1066/2007, of 27 July, on the rules governing takeover bids, the application for authorisation filed on 14/09/2023 by Amber EquityCo, S.L.U. for the launch of a voluntary takeover bid for 100% of the shares of Applus (APPS), in competition with the bid…

AlfonsoRueda

Spanish Politics 19th February 2024

PP renews absolute majority in Galicia, PSOE loses third of seats

For her part, the vice-president of the Government and leader of Sumar, Yolanda Díaz, obtained 4.4% of the votes in her town (Fene) and did not win a single deputy in the regional assembly, so the memes ran last night through the social networks: “Sumar and Podemos double their results to the previous elections: In the previous elections they got nothing, and in these, nothing at all”. Nor did the…

Indra Tecnocom

Spanish economy 19th February 2024

Indra buys remaining 65% of GTA and is now one of few companies in the world able to cover entire value chain of the business

Link Securities| Indra, a leading global consulting and technology company, has closed the acquisition of 65% of Global Training Aviation (GTA), thus reaching 100% of the capital, and becomes one of the few companies in the world able to cover the entire value chain of this business, from the development of the most advanced simulators and training systems to the provision of training services for civil and military pilots. Indra…

supermercado precios

Spanish economy 17th February 2024

Spain confirms final CPI for January

Bankinter : Final CPI January 2024 confirms +3.4% year-on-year (from +3.1% year-on-year previously). Underlying CPI also confirms +3.6% year-on-year (from 3.8% year-on-year previous). Month-on-month 0.1% month-on-month (from 0.0% month-on-month Dec-23) and in the Underlying -0.4% month-on-month (from +0.2% month-on-month Dec-23). Analysis: With no surprises, the final January data confirm the provisional figures. The difference between the General and Underlying Rate narrows to 0.2pp. The increase in the headline rate is…

Telefónica

Spanish economy 16th February 2024

Telefónica wins lawsuit against Millicom for cancelling purchase of Costa Rican subsidiary

A New York court has ruled in favour of Telefónica in its lawsuit against Millicom International Cellular for refusing in 2020 to honour the agreement to buy the telecommunications company’s subsidiary in Costa Rica for $70 million (around €530 million at current exchange rates). Although the ruling does not specify the amount to be paid in compensation by the telephone operator, which refused to make the purchase despite having agreed…

morocco inmigration

In Spain 16th February 2024

Immigration increases Spain’s population by half a million to 48.6 million in 2023

What the INE statistics reveal is that all this growth comes from a population born outside Spain that now resides in our country. This group grew last year by 571,000 people, compensating for the loss of the population born in Spain. The population born and residing in Spain suffered a drop of 63,500 people in 2023. This means that births in our country did not compensate for deaths. However, the…