Slim, Or The Art Of Buying At Bargain Prices

F. Barciela / F.G. Ljubetic | The bios about Carlos Slim, the third richest man in the world according to Forbes, are very clear about the origins of his fortune. He made the most of his money during the peso crisis by acquiring several blocks of shares in the biggest Mexican companies at a bargain prices. This is how he will acquire FCC, one of the biggest Spanish construction firms, for just…7.6 euros per share.

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Market chatter: down the road to a banking union and much more

MADRID | By Jaime Santisteban | In a crucial day for the long-awaited banking union in Europe, market makers also chattered about many other issues, like the Bank of Spain -which has denied it plans to subject Spanish lenders to stress tests this month- achieving less tough criteria for Spanish banks in the upcoming EU stress tests.

FCC’s refinancing deal captures Spain’s market chatter today

MADRID | By Jaime Santisteban | Spanish builder and services firm FCC wrapped up a debt refinancing agreement worth €4.5bn with 99 % of creditor banks, which could turn debt into corporate capital. Market makers like ACF find the move possitive but warn that this move would increase debt average cost.

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Investors See Spain As No-Brainer, Juicy Risk

THE CORNER TEAM | As the euro zone crisis shakes off a recession, investment opportunities are mushrooming across the South of Europe. In Spain, banking and media sector as well as infrastructure are the preferred bets. “As maximum exposure recovery in Europe’s periphery, FCC is ideal. Just don’t think about the downside,” the Financial Times’ Lex argued on Friday, after millionaires George Soros and Bill Gates have both bought stakes in the indebted construction company in less than three months.

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FCC, Bill Gates and Spanish Companies’ New Sex-appeal

MADRID | By Javier Flores and Tania Suárez | Major foreign investment operations in Spain are essentially financial and take place in strategic sectors. Bill Gates’ purchase of 6% of Spanish construction company FCC for €113.5 million is a good example. And the trend will continue and speed up in the coming months.