The president of the CEOE, Antonio Garamendi, has assured that the stock market value of Spanish companies is lower than what they would have “if they were flowing”, that is, without the tax burden that “does not allow them to earn money”, in reference to the extraordinary taxes borne by banks and large energy companies.
“There are consequences from these decisions,” Garamendi said this Thursday within the framework of the V International Expansion Forum in reference, not only to the takeover of BBVA about him Sabadell Bank, but also to the entry of the State into the capital of some companies, as is happening with the SEPI in Telephone, or to the supervision of some operations, as in Talgo.
Expressly asked about BBVA’s takeover bid for Sabadell, he recalled that both entities are members of the CEOE and asked “respect for the decisions they want to make from the private sphere”, while the Government – which has rejected the operation – has demanded that let “companies work and to the shareholders to decide”.
Regarding the operations that foreign companies have carried out on strategic Spanish companies, he indicated that the “interventionism” of the State It would not have to happen if “companies were allowed to flow.”
That said, he considered that “we must “monitor very well not so much the entrance but the management” of foreign capital in Spanish companies, since “it would not be good for the country” for the State to gain weight in these companies. “We must protect companies, shareholders, take care of them under cotton,” said Garamendi.
