Loyalty Shares in Spain: Double-Voting Rights Could Hinder Takeovers
In Spain, the companies that establish the double voting system will be less prone to takeover, such as Repsol SA (REP SM) and Telefonica SA (TEF...
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Selected European Holdcos and DLCs: April Report
Discounts to NAV for our selected European holdcos and DLCs have generally tightened in April. The report incorporates Q1 releases for the main...
255 Views
Selected European Holdcos and DLCs: March Report
Discounts to NAV for our selected European holdcos and DLCs have generally tightened in March. The report incorporates the results for GBL, and...
248 Views
Naturgy - IFM: Consideration Adjustment, New TP, Attractive Spread
TP of €21.98 assumes that 50% of the shares are accepted in the offer at €22.37 per share and the rest trade at c. €21.6 (Capital IQ consensus...
215 Views
Selected European Holdcos and DLCs: February Report
Discounts to NAV for European holdcos and DLCs have generally widened in February. The report incorporates some results, as well as several SOTPs.
263 Views