Alphavalue/DIVACONS | Goldman Sachs has reduced its stake in Telefónica to 5.533%, down 2.5 percentage points from the 8.081% it previously held in the company chaired by José María Álvarez-Pallete, according to filings with the National Securities Market (CNMV). Telefónica: Buy, Target Price 6.23 euros/share.
Bankinter | Laboratorios Rovi (ROVI) is negotiating with the CVC fund the sale of its third-party manufacturing business. The valuation of 100% of this business could exceed €3,000 million. Antin, Cinven, KKR and Permira have dropped out of the bidding. Opinion of Bankinter’s analysis team: Positive news that opens the possibility for Rovi to value its assets, the first glimpses of which we saw in March. Sales of the manufacturing…
Link Securities | The possible transfer of the Spanish satellite group Hispasat to Indra (IDR) by Redeia (RED) could become the largest transaction so far carried out by state-owned companies, which in turn are listed on the stock exchange, according to Expansión newspaper on Monday. This means that, according to legislation (Ley de Sociedades de Capital and other regulations), it could be considered a related-party transaction. This opens the door…
Norbolsa | On Friday the company reported results below expectations for the first half of the year, with sales 2% below expectations, net profit falling 26% and an operating margin of 14.4% vs. 15.3% previously. The company justified this, among other reasons, by higher IPO costs and higher employee bonuses. It is worth highlighting the poor performance of its make-up division, affected by the Asian markets. The company maintains its…
El Economista | The share of sales of new plug-in vehicles (10.4%) exceeded that of diesels (10.3%) for the first time during the first half of 2024, although they only represent 1.4% of the vehicle fleet, according to the IV Report on electric mobility in Spain. Gasoline vehicles topped sales (40.6%), followed by hybrids (35.7%), in a ranking that also includes those running on alternative fuels (2.9%). The study, led…
Intermoney | The construction company (Comprar, PO 46 €), through its North American subsidiary Turner, has been awarded the contract for the renovation of San Francisco airport, which will involve an investment of €2.35 billion, according to Expansión newspaper. The work will focus on Terminal 3, extending the surface area of this facility by 200,000 square metres, while at the same time refurbishing a further 650,000 square metres and erecting…
Economía Digital | The price of housing was growing at 3.6% a year ago and has shot up to 7.8%. The lack of supply still means skyrocketing prices Although there are many factors behind a market as complex as the housing market, the truth is that the effects of the Housing Law passed a year ago by the Government are striking: only one year later the increase in market prices…
Alphavalue / Divacons | MasOrange, the telecommunications company resulting from the merger of Orange and Masmovil in Spain, announced a voluntary redundancy plan for a maximum of 795 workers, which represents 9.5% of the 8,400 employees that make up the company’s current workforce, according to an internal communiqué sent to employees. Yesterday, MasOrange agreed with the government to maintain the workforce, although it is a question of voluntary redundancies, and…
The National Statistics Institute (INE) published this Tuesday the preview of the results of the Statistical Review 2024 on the National Accounts, which has resulted in an increase of nominal GDP of €13,184 million in the reference year 2021, which means an increase of 1.1% over the level of the previous accounting base. This impact, the INE clarifies, is transferred to the years following the reference year, 2022 and 2023,…
Banco Santander has ‘returned’ to Formula One, but this time as Global Sponsor of the competition, thus interrupting its presence in the Ferrari team, which was so successful during its first sponsorship during the presidency of the late Emilio Botín. The entity now headed by Ana Botín is expanding its investment, becoming the company’s global sponsor and official bank. The international entity, based in Santander, announced this Wednesday the agreement…