Canal Isabel II IPO plan hit by political flak
- From: Vol 9, Issue 10 (October 2008)
- Category: General
- Region: Europe
- Country: Spain
The proposal to float 49% of Madrid’s water company has already hit political opposition. It may require CYII’s existing contracts to be rescinded and retendered.
Plans announced last month by regional president Esperanza Aguirre to sell off 49% of Madrid’s water company Canal Isabel II (CYII) to help meet the estimated €4 billion bill for investment in water infrastructure in the region over the next decade have run into strong opposition.
The proposal is to turn the publiclyowned CYII, which has been supplying water ...
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