The Government’s shielding of Spanish firms of “strategic interest” against takeover bids from abroad is extended until December 2026. The Executive imposed what is known as anti-opas shield in 2020 to prevent key companies for the economy or defense from falling into the hands of foreign investors in a context of stock market weakness due to the pandemic.
However, it must be recognized that it makes less and less sense in a scenario of highs for the Ibex that already represents a solid barrier for opportunistic investors. Furthermore, it is worth remembering that the anti-oops shielding It is especially extensive in Spain, for its very lax definition of what a strategic company is. It is urgent, therefore, that this market recovers normality outside of interventionism.
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