The Government continues to pressure Ferrovial not to comply with its intention to move its headquarters to the Netherlands. Only three days before the company's shareholders' meeting that must decide on the change of headquarters, this morning the Secretary of State for the Economy, Gonzalo García Andrés, sent a letter to the CEO of Ferrovial, Ignacio Madridejos, in which he insists that there are no economic reasons that justify the transfer of the company.
This is the position that the Government maintained in full from the beginning, with special prominence of the First Vice President and Minister of Economy, Nadia Calviño, and that now after analyzing the matter in depth, it maintains point by point. It has compiled the reports from both the National Securities Market Commission (CNMV) and the Spanish Stock Markets and Markets (BME), has maintained contacts with the New York Stock Exchange and the result that "no obstacle (legislative, regulatory, supervisory or operational) for the direct admission of the shares of a Spanish company listed in Spain in the United States, nor indications of its existence", as indicated by the Ministry of Economy.
With the letter, the ministry intends to transfer these conclusions to Ferrovial, with the aim of informing the Shareholders' Meeting that this Thursday must make the decision to transfer the headquarters. From Economy it is made explicit that the conclusions derived from these analyzes "question the economic motivation alleged by the company for the transfer of its headquarters to the Netherlands." This is a position that Nadia Calviño already maintained in an interview with La Vanguardia on March 5, and that she now reiterates after carrying out an in-depth analysis of the subject.
It is also added that there is no difference between countries of the European Union in terms of the admission requirements established by the US stock exchanges through simultaneous listing ("Dual Listing").
In addition, the Ministry of Economy also insists on its willingness to carry out the changes that are necessary so that Spanish companies, whether Ferrovial or any other, have the best possible access to the North American market with the actions that are appropriate.
When Ferrovial announced at the end of February its intention to move its headquarters from Spain to the Netherlands, it argued, among other reasons, that the relocation of its parent company would facilitate the process of going public in the US.
From the infrastructure company they have confirmed that they have received the letter, but have declined to make any comment.
