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Spanish economy 18th November 2020

The Spanish Government Expands The Anti-Take Over Bid Shield Iniciated Due To The Pandemic

The Government has approved the extension of the regulations on foreign investment with the aim of making it more difficult for foreign investors to take control of strategic Spanish companies that have fallen significantly on the stock market as a result of the Covid-19. The new issue of the measure, which was already in force, is to extend to EU investors plus the United Kingdom, Switzerland and Norway, the restrictions approved in March for non-EU investors.

Santander consumer bank

Ibex, Markets, Spanish economy 17th November 2020

Santander Considers Cutting 4,000 Jobs While Hiking Capital To Execute Its Dividend Of 0.1 €/Share

The rights related to the bonus capital hike with which Santander will pay its next dividend, a final dividend of 0.1 euros/share charged against 2019 results, began to trade on the stock exchange this week. There are two options available to shareholders: 1) Sale of rights received free of charge, at the price at which they are trading on the market when they are sold. The trading period will be extended – officially- until 30 November. 2) Collection of the dividend in shares, receiving one free share for every 23 old ones.

BBVA Sabadell

Ibex, Markets, Spanish economy 17th November 2020

BBVA, Banco Sabadell In Talks Over Possible Merger

The combination of the two banks would give rise to the second Spanish lender by global business, behind Santander, with almost €1 billion in assets. The confirmation of these contacts came hours after BBVA announced the sale of its US subsidiary to the financial services group PNC for €9.7 billion and capital gains of 580 million. This could mean that BBVA would not need a capital increase to execute an operation involving a smaller rival.

Australia spain firms

Ibex, Markets, Spanish economy 17th November 2020

ACS, Acciona And Ferrovial Compete For €2.15 Bn Australian Railway Project

he three main Spanish infrastructure groups with a presence in Australia, ACS, Acciona and Ferrovial are in the final push for a new multi-million dollar project in the oceanic country. The companies are part of two of the three consortiums which have entered the bidding phase to execute the main works of the Inland Rail. This is the largest railway project in the country for 100 years. It consists of a high productivity freight corridor between Melbourne and Brisbane.

Cellnex Hutchinson

Ibex, Markets, Spanish economy 16th November 2020

Cellnex Buys CK Hutchison’s European Tower Business And Approaches The World Leader American Power

Cellnex has announced it will buy the Hutchinson towers in Europe for 10 billion euros. The operation will be paid partly in shares so that Hutchinson will acquire 5% of the Spanish group. Since its IPO five years ago, this has invested more than 25 billion euros in purchases. This latest operation with CK Hutchinson will position Cellnex with more than 100,000 towers closer to the world leader American Tower. 

Spain pfizer vaccine

Spanish economy 16th November 2020

Spain To Acquire Around 20 Million Doses Of Pfizer Vaccine To Immunize About 10 Million People

Spain’s Health Minister, Salvador Illa, hopes that “this week or next”some more contracts can be signed with new pharmaceutical companies to acquire a future vaccine against Covid-19. These include Pfizer and Biontech. Last Monday, these companies announced that their vaccine is more than 90% effective, after the “success” of the first intermediate analysis of their phase 3 trial.

budget2021 amendments

Spanish economy 13th November 2020

Spain’s Budget 2021: Improvable, But Far From Being The Worst Possible To Show A Responsible Country

Joan Tapia | Yesterday, the Spanish Parliament rejected, with a large majority the complete amendments to the 2021 budget. It is an important step towards political stability and the possibility of creating an economic policy to fight the crisis. From the economic point of view, the Budget may be substantially improved, but we have the government that we have, PSOE with Podemos. So the accounts for 2021 – in the midst of great world uncertainty – are far from being the worst possible.

okBBB

I.R. Spain, Spanish economy 12th November 2020

Quarterly Earnings Reporting And The Encouragement Of Long-Term Shareholder Engagement

Francisco Blanco Bermúdez* | The transposition into Spanish law of EU Directive 2017/828, dealing with the encouragement of long-term shareholder engagement in listed companies, and some other related proposals will imply some changes to Spanish legislation. For example, the striking proposal that will mean that listed companies will be free to publish or not publish financial information on quarterly results.

agri food

Spanish economy 12th November 2020

The Resilience Of Spanish Agri-Food Exports

Caixabank Research | The agri-food sector is a key pillar of the Spanish economy’s foreign sector. In 2019, sales overseas amounted to €50.361 Bn, 5.9% more than in 2018, representing 17.4% of total exports. Within the general pattern of decline in international trade due to the Covid-19 pandemic, Spanish agri-food exports grew by 4.9% year-on-year in January- July 2020, which contrasts with the drop in total exports of goods (-14.6%). So the weight of agri-food exports increased significantly to 30% in April.