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CORRECTED-Spanish stocks - Factors to watch on Monday
October 16, 2017 / 6:06 AM / 2 months ago

CORRECTED-Spanish stocks - Factors to watch on Monday

(Corrects to show Citgroup reiterates Gas Natural neutral rating) The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

ABERTIS

Italian toll-road operator Atlantia is prepared to raise its takeover bid for Spanish rival Abertis to up to 18 euros per share to beat a rival offer that is being readied by builder ACS, three sources close to the matter said on Friday.

Separately, the Ibex Technical Advisory Committee has decided to remove Abertis stock from the Ibex 35 as of October 25 if no counter-bid is launched.

PRISA

Prisa said on Friday it will hold shareholders meeting Nov 15 instead of Oct 30, and that the board has agreed to propose shareholders a capital increase worth 550 mln euros consisting of 450 mln euros in cash and 100 mln euros by compensating loans.

SIEMENS-GAMESA

Siemens Gamesa said on Friday it has lowered its forecast of underlying Ebit (pre-purchase allocation) to around 790 million euros from previous around 900 million euros for fiscal year ended on September 30.

GAS NATURAL

Citigroup reiterated “neutral” while increasing the target price to 18.9 euros.

Separately, Gas Natural said on Friday it had signed a deal to sell its gas distribution business in Italy to 2i Rete Gas and its Italian retail business to EDF’s unit Edison, in a deal worth more than 1 billion euros.

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