Canal Isabel II sell-off awaits approval

Officials in Madrid are due to sign off on the part-privatisation of CYII before the end of the year. The local government desperately needs the funds to shore up its finances.

Later this month, the Madrid regional assembly is set to approve the regional government’s plans to partially privatise the capital’s 150 year-old water company Canal Isabel II (CYII).

The intention is to allow investors to take a 49% stake in a new listed subsidiary of CYII, in order to generate capital for the €4 billion investment which the ...

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