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Telefónica commits to maintain their shares in China "forever"

Published on Feb. 29, 2012

 
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According to Bloomberg, the Spanish telecommunications operator has announced their compromise to maintain their 3.000 million euros share in China Unicom, the second largest telecommunications company in China.

César Alierta, president of the Spanish company, announced In the Mobile World Congress that is taking place in Barcelona these days their intention of growing up in emerging markets like Latin America and China. Alierta declared, after a meeting with a China Unicom’s chief, that “The compromise with China Unicom is totally stable and we do not have any intention of abandoning it”. Alierta also stated “We consider our agreement as a long term strategic alliance and we will maintain it forever”

After nine consecutive years with huge growths in ...

Studies by Berkeley Resources point at the possible finding of uranium reserves in Extremadura

Published on Feb. 23, 2012

 
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The Spanish region of Extremadura could soon turn into one of the World’s uranium producers if the encouraging results of the tests carried out by the Australian company Berkeley Resources confirm the mineral subsoil’s richness in the region.

The Australian company has done cartography works and drilling tests in four different mineral deposits in the Cáceres province and the first results were positive. More results and studies could confirm the existence of the mineral in the area.

The mining exploitation could be carried out if the Spanish administration issues the exploitation and environmental permits need to start the mineral extraction activities and the project shows economic viability.

The uranium reserves in Extremadura could be the only ones in ...

Spanish banks present takeover bids on Unnim

Published on Feb. 22, 2012

 
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Santander, BBVA, Popular e Ibercaja presented this Tuesday to the Banco de España their binding takeover bids over Unnim while Bankia and JC Flowers rejected bidding.

The banks interested in the acquisition of Unnim are evaluating the Protection Assets Scheme to cushion losses, which would be fueled by the resources of the Bank Deposit Guarantee Fund, that would benefit the potential buyer of the entity.

The most appealing entities to take over Unnim appear to be Banco Popular, which wants to increase their size and get ahead Banco Sabadell, and BBVA, which wants to gain presence in Cataluña. On the other hand, Ibercaja, even if they have been showing their interest in Unnim since a while ago, seems to have ...

Analysts expect a 15% growth in Gas Natural results

Published on Feb. 22, 2012

 
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Gas Natural Fenosa presents this Tuesday their 2011 results expecting 1.376 million euro earnings, according to the consensus of the analysts consulted by Bloomberg. These earnings would entail a 14.6% increase in regard to the 1.201 million euro of 2010.

According to the analysts, the improvement is justified by the fall of the financial expenditure as a result of the debt reduction. But the weakness of the Spanish market would weigh down the operating outcome of the gas fitter.

The company, presided by Salvador Gabarró, reduced their net profit a 0.7%, until 1.114 million euros, in the first nine months of the year, despite increasing their business turnover by a 7.2%, until 13.315 ...

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