Spain: Overshadowed by Argentina
- From: Vol 4, Issue 6 (June 2003)
- Category: Market insight
- Region: Europe
- Related Companies: Aguas de Barcelona, Deutsche Bank and Suez
In theory, Spain should be a good market for water investors. The combination of increased wealth, population pressure in its arid areas, and the trend towards privatisation all bode well. But the reality is somewhat different.
Political influence on pricing has worked against the Spanish water industry according to analyst Sonia Ruiz de Garibay of Caja Madrid Bolsa: “The [Popular Party] government currently favours the gas industry, which enjoys high prices, while the rise in prices in water has been modest”, she says. However, according to Virginia Sanz, who is an analyst at Deutsche Bank, water ...
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