Today I had breakfast with the news that the secretary general of the Energy has announced a sharp increase in electricity tariff for next year. Has left little to the croissant I choked and spilled out the cut.
So it was that, all this mess of takeovers and anti-takeover stemmed from a rise in rates would increase operating margins and therefore your investment in the purchase of shares in Endesa . In short, the price paid for the shares of Endesa, the end is not going to pay or Gas Natural and E. On, but the ordinary people unhappy. Well, I get my stake in the company, I am a customer of Endesa!
The truth is that the ad will not catch me by surprise, he saw it coming. The worst of the matter is that this announcement gives greater scope to the president of Endesa, Mr. Pizarro to try to become entrenched in his armchair. It appears that this increase in tariffs allow Endesa to negotiate with financial institutions the advancement of quantities, in other words, could discount it as if it were a promissory note. Why? The answer is far-fetched, but at the same time simple
So it was that, all this mess of takeovers and anti-takeover stemmed from a rise in rates would increase operating margins and therefore your investment in the purchase of shares in Endesa . In short, the price paid for the shares of Endesa, the end is not going to pay or Gas Natural and E. On, but the ordinary people unhappy. Well, I get my stake in the company, I am a customer of Endesa!
The truth is that the ad will not catch me by surprise, he saw it coming. The worst of the matter is that this announcement gives greater scope to the president of Endesa, Mr. Pizarro to try to become entrenched in his armchair. It appears that this increase in tariffs allow Endesa to negotiate with financial institutions the advancement of quantities, in other words, could discount it as if it were a promissory note. Why? The answer is far-fetched, but at the same time simple
- To advance the payment of dividends to shareholders. With this, the current leadership of the company try to have happy stockholders and that they were more resistant to the tempting offers of the bidders. Somehow, that is, for shareholders, bread today, hunger for tomorrow.
- Endesa to squander resources and make the company less attractive to bidders, as the resources generated by Endesa for the rate increase in the future would be committed to financial institutions and the largest debt of Endesa will not result in a greater productive capacity.
- To thank her white knight (Acciona) services provided. Distributing these dividends "reduce" the cost of acquiring the package purchased by Acciona.
In short, a full-blown poison pill. It would be desirable
not take decisions that affect the ability to generate resources sector while we are in these processes, we see that changing the rules of the game helping or hurting the parties involved.
0 comments:
Post a Comment