MADRID/ISTANBUL, Nov 19 (Reuters) – Spanish bank BBVA
is raising its stake in Garanti, one of
Turkey’s biggest lenders, in a deal worth $2.5 billion that will
give it control of the board as it pursues its strategy of
Turkish conglomerate Dogus Holding has agreed to sell a
14.89 percent stake to BBVA, which already owns 25 percent of
Garanti, for 5.5 billion lira, Garanti said in a stock-exchange
filing on Wednesday. The deal cuts Dogus’ stake to 10 percent.
MADRID (Reuters) – Spanish lawmakers were set to vote on Tuesday in favor of their government recognizing Palestine as a state in a symbolic move intended to promote peace between the Palestinians and Israel but which has angered the Jewish state.
The debate in Madrid comes on a day when two Palestinians armed with a meat cleaver and a gun burst into a Jerusalem synagogue and killed four Jews at prayer before being shot dead.
MADRID (Reuters) – Spanish Prime Minister Mariano Rajoy on Wednesday urged Catalonia to seek a constitutional reform to resolve its political problems with Madrid but he ruled out talks on a possible referendum on independence.
The public prosecutor’s office meanwhile prepared to sue Catalan president Artur Mas on charges of disobedience and dishonesty after he defied a court injunction and held a symbolic vote on secession on Sunday.
MADRID, Nov 12 (Reuters) – Spain’s Telefonica
pointed to a rise in customers signing up for its mobile,
broadband and pay-TV deals as evidence of a turnaround from its
three-year slump after posting falling revenue and profit in the
first nine months of the year.
The trend echoed that at British and Dutch rivals Vodafone
and KPN, which have started to benefit from
their investments in faster networks, though Telefonica’s
trading improvement may need a few more months to feed into the
MADRID, Nov 6 (Reuters) – Spanish oil firm Repsol
posted a 41 percent rise in underlying third-quarter net profits
on Thursday, boosted by a sharp improvement in refining margins,
lower financial costs and a recovery in production in Libya.
The cash-rich group is pursuing a $10 billion acquisition
drive to take advantage of lower valuations for U.S. shale
assets, which have been hit by falling oil prices, and to
eventually fill a gap left by the 2012 seizure of its Argentine
MADRID (Reuters) – A party formed in January has become Spain’s main political force one year before national elections, an opinion poll showed, shaking up a two-party system that has dominated since the country’s return to democracy in the 1970s.
Podemos (“We Can”) has ridden anti-establishment sentiment for months by fielding young candidates new to politics and tapping into the “Indignados” movement that occupied Spanish squares three years ago calling for a new political model.
MADRID (Reuters) – State-owned Spanish airport operator Aena has postponed filing the prospectus for its planned $10 billion stock market listing until next week, an official said on Friday, after the Madrid bourse regulator said it needed more information.
The sale of a 49 percent stake in the world’s biggest airports operator has been flagged as the largest initial public offering in Europe this year and a litmus test for domestic investor faith in an economic recovery.
MADRID, Oct 24 (Reuters) – State-owned Spanish airport
operator Aena’s initial public offering could start as soon as
next Monday at a premium price compared to its European peers, a
report from the public body advising the government on
privatisations showed on Friday.
The sale of a 49 percent stake in the world’s biggest
airports operator was flagged as the largest initial public
offering in Europe this year and a litmus test for domestic
investor faith in an economic recovery.
MADRID, Oct 24 (Reuters) – Spain’s Caixabank and
Bankia posted a rise in nine-month profits on Friday,
as their core banking performance was boosted by lower costs and
higher charges to clients.
Both banks, though, reported a drop in lending.
Spanish banks are recovering this year from a deep financial
crisis. But they are still lumbered with higher levels of soured
loans than before the 2008 property crash, when they were forced
to shed assets and shrink their balance sheets.