The Government will extend one year authorization for foreign investments that they pursue to become with 10% or a percentage of control in companies considered strategic. This measure, which was launched at the beginning of the pandemic to prevent opportunistic investors from taking control of strategic Spanish companies at demolition prices, expires on December 31st.
On the table of the council of ministers is this extension, as confirmed by Executive sources, as has been advanced by ‘El Confidencial’. The idea is that the limitations are maintained in the same terms as those that were established. The limitations, which were extended in June until December 31, also affect investors based in European Union (EU) countries.
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The Australian Fund IFM he had to avail himself of this official authorization for the partial takeover that he launched on Naturgy. Finally he had to settle for 10.83%, well below the minimum of 17% that had been imposed and more than the 22.69% that he had as a goal.
The extension of this limit is on the table at a time when the US fund KKR has shaken the Italian economic and political world with a takeover on Telecom Italia. Vivendi, the main shareholder, opposes it and the Italian Government, the second, views it with suspicion. In Spain, this operation triggered the takeoff of Telefónica, another of the companies that is considered strategic.
Reference-www.elperiodico.com