September 12, 2019 / 6:23 AM / 2 months ago

Spanish stocks -Factors to watch on Thursday

Sept 12 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Thursday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

BBVA

BBVA is trying to sell almost 5 billion euros worth of unpaid loans, El Confidencial online newspaper reported, citing financial sources. The paper added this was the biggest package of soured credit ever to be put on the market in Spain.

TELEFONICA

Shares in the group’s Brazilian unit rose on Wednesday after a Brazilian Senate committee passed a bill that will modernise the country’s telecommunications law and boost companies in the sector by restricting asset sales.

Separately, El Pais reported Telefonica has been awarded a contract worth 134.2 million euros to supply internet and fixed telephone lines to the Spanish government.

DEOLEO

The olive oil company said on Wednesday it was in advanced talks with its main creditors on debt refinancing and restructuring.

ACS

Canadian asset manager Brookfield has bought a portfolio of Spanish assets in which the construction firm is a shareholder, creating a partnership which could lead to further joint investments, Expansion newspaper reported.

MERLIN PROPERTIES

The company has bought Swiss food and drink multinational Nestle’s offices in Portugal for 19.5 million euros, El Economista reported.

CODERE

The betting firm has hired Merrill Lynch to arrange a refinancing of its debt to smoothe the way to a potential takeover, El Confidencial reported.

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