Madrid mulls sale of 20% stake in CYII
- From: Vol 12, Issue 2 (February 2011)
- Category: General
- Region: Europe
- Country: Spain
- Related Companies: Axa, BBVA, Canal de Isabel II, Macquarie and Rothschild
Spain’s municipalities are waiting until local elections are out of the way before considering asset sales which might strengthen their balance sheets. The utility serving the nation’s capital is said to be first in line.
The Madrid regional government is considering selling a preliminary 20% stake in Canal Isabel II (CYII) and then increasing private sector participation at a later date, a source within the publicly-owned water company told GWI.
The same source described as “generally accurate” the information published by the Madrid business daily Expansión at the end of January to the effect ...
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