MADRID (Reuters) – French telecom group Orange (ORAN.PA: Quote, Profile, Research, Stock Buzz) said on Friday it would take Spanish rival Jazztel (JAZ.MC: Quote, Profile, Research, Stock Buzz) private after its $3.8 billion takeover was overwhelmingly backed by Jazztel shareholders.
Shares in Jazztel will stop trading after Aug. 13, Orange said. It has said that it plans to merge its Spanish unit and Jazztel and then list part of the merged company on the Madrid stock exchange.
MADRID, June 24 (Reuters) – Spain’s economy grew at close to
4 percent in the first half of 2015, putting it on course to
return to pre-crisis levels of output by the end of next year,
Economy Minister Luis de Guindos said on Wednesday.
Spain’s gross domestic product fell around 8 percent between
the first quarter of 2008 and the second quarter of 2013, when
it began emerging from a long downturn, and the economy – and
the extent of its recovery – will be a key battleground in a
national election due in November.
MADRID, May 27 (Reuters) – For more than a century, services
group FCC has run the sewerage system in Barcelona,
northeast Spain. Now the victory of a radical left party in town
hall elections last Sunday is casting doubt over the contract.
The concession, renewed in January and worth 104 million
euros ($113 million) over seven years, is one of many FCC and
rivals ACS and OHL hold in Spain’s three main
cities Madrid, Barcelona and Valencia — all of which will have
anti-austerity mayors keen on reassessing contracts.
MADRID (Reuters) – To anyone who doubted his re-election strategy, Spanish Prime Minister Mariano Rajoy has had a simple answer: “Trust me”. Now, a battering in local polls has cast doubt on his plan that an economic recovery will secure him a second term later this year.
In six months’ time, when the next general election is due, the Spanish economy will be growing at 3 percent and half a million jobs will have been created. This was Rajoy’s message as he campaigned across Spain for his conservative People’s Party (PP) before the municipal and regional polls last weekend.
MADRID/VALENCIA, Spain (Reuters) – Spain’s ruling People’s Party (PP) took a battering in regional and local elections on Sunday after voters punished Prime Minister Mariano Rajoy for four years of severe spending cuts and a string of corruption scandals.
In a test of the national mood ahead of general elections expected in November, the PP suffered its worst result in more than 20 years to herald an uncertain era of coalition as new parties rose to fragment the vote.
MADRID/VALENCIA, Spain, May 24 (Reuters) – Spain’s ruling
People’s Party (PP) took a battering in regional elections on
Sunday with Spaniards punishing Prime Minister Mariano Rajoy for
four years of severe spending cuts and a string of corruption
Although the PP got more votes than any other party, it
suffered what could be its worst election result in more than 20
years, exit polls showed, as an economic rebound after a severe
recession failed to conserve the absolute majority it held in
MADRID/VALENCIA (Reuters) – Upstart parties are expected to make strong headway in Spanish regional elections on Sunday, ushering in an era of coalition and compromise and potentially dampening Prime Minister Mariano Rajoy’s prospects of winning a second term later this year.
Rajoy’s conservative People’s Party (PP) is likely to win most votes in elections taking place in 13 of Spain’s 17 regions and more than 8,000 towns and cities.
VALENCIA, May 21 (Reuters) – Spaniards are expected to sweep
aside 40 years of predictable politics when they vote in
regional elections on Sunday and usher in an unstable era of
coalition and compromise, likely to curtail the authority of
Prime Minister Mariano Rajoy.
Rajoy’s conservative People’s Party and leftist Socialists
have alternated in power since the end of dictatorship in the
1970s, with virtually no tradition of coalition government at
the national or regional level.
MADRID, May 14 (Reuters) – Spanish telecoms group Telefonica
posted higher first-quarter sales and core profits on
Thursday, despite a disappointing performance in its home
market, where a rise in customers has yet to deliver revenue
The company said it has now entered a new phase of growth
following a six-year slide in revenues and profits that was
caused by the deep economic crisis in Europe and the subsequent
restructuring of its business in an effort to reduce its debt.
MADRID, May 14 (Reuters) – Telefonica posted higher
first-quarter sales and core profits on Thursday thanks to
growth abroad, a sign that an expected turnaround at the Spanish
company is underway even though its home market shrank again.
The telecoms company is hoping to start a new growth cycle
in 2015 following a six-year slump that was prompted by a deep
economic crisis in Europe and the subsequent restructuring of
its business to pay down high debts.