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Montero reiterates that there is no legal impediment for the double listing of Ferrovial

Date: October 1, 2023 Time: 15:08:32

The Government continues with its particular ‘crusade’ against Ferrovial. Now it has been the Minister of Finance, María Jesús Montero, who has confirmed this Tuesday her “total harmony” with the Department of Economy and has insisted that “there is no impediment in Spanish legislation” for the construction company to be able to quote, in addition on the Spanish stock market, in the United States.

In statements to journalists in Seville and reported by Europa Press, Montero has avoided entering into “speculations” about the tax consequences that the transfer of Ferrrovial’s headquarters from Spain to the Netherlands may entail, the approval of which will be submitted to the shareholders’ meeting tomorrow after reaffirming the company that it is going ahead with its plans as a result of the letter sent by the Government in response to the reasons they allege.

In this sense, he has insisted that the Ministry of Economy has informed Ferrovial that the reasons he gives for the transfer “does not correspond to Spanish legislation” and has assured that “studied in detail there is no reason of the economic type that he gives to move and that has to be known to the shareholders’ meeting so that, if they have another reason, let it be the one that prevails and not questions that can carry out a deception”.

“It seems that a message of legal insecurity is conveyed”

According to Montero, it is important that the Government clarify this issue because “it seemed that a message of legal insecurity was being conveyed” in Spain with Ferrovial’s decision when – he has highlighted – the central Executive and public and private bidders have always estmu do compredo sempredo this partner

In fact, he has highlighted that Spain encourages foreign investment very well, which was around 35,000 million in 2022, which reflects, according to Montero, that “legal security and conditions are favorable here” where there is “legislative stability and it is better than in other European countries the economic situation” with more growth and greater inflation control.

The minister has avoided ruling on the tax consequences of the transfer and has stated that “now is not the time” and that the Tax Agency will analyze it when the corporate tax is filed and will make the appropriate considerations.

However, he has specified that, “when there are no economic reasons, there are tax elements that cannot be applied” to the company in question, although he has insisted that this decision will correspond to the Tax Agency at the time.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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