A few minutes after the Ferrovial shareholders’ meeting approved the transfer of the multinational’s headquarters to the Netherlands, the Ministry of Economic Affairs has sent a double message. “The Government respects the decision adopted by the shareholders in the General Meeting of Ferrovial”, affirms from the department that directs Nadia Calvino. But at the same time the Government insists that the transfer to the Netherlands is not justified in order to be listed on the New York Stock Exchange, as the infrastructure multinational claims: “As has become clear, from the analyzes of the stock market supervisor (CNMV) and Spanish Stock Exchanges and Markets (BME), companies listed in Spain can be listed on the North American stock market if they so request, since there are no legal, regulatory or operational obstacles that prevent it.”
It could be said that the swords are still held high and that the warnings that the Government has been issuing up to minutes before the shareholders’ meeting are still alive. On the morning of this Thursday, both the Minister of Finance, Maria Jesus Monterosuch as the Ministers of Inclusion and Social Security, Jose Luis Escrivaand of Presidency, Felix Bolanoshave once again expressed their rejection of the business transfer and have once again warned that if, as the Government believes, there is no “valid economic motivation” that justifies the transfer of the headquarters, the tax advantages of the regime will not apply of corporate tax mergers to which the managers of Ferrovial aspire.
“We are going to continue working constructively with all Spanish companies to defend their interests and promote their expansion and growth”, stressed the Ministry of Economy after learning the result of the shareholder vote in favor of the transfer of headquarters. The Government has shown its willingness to continue working “to attract investment and help companies in Spain to grow, create jobs and access financial markets from our country under the best possible conditions”.
In addition, from the Ministry of Nadia Calviño, the strong growth of the foreign investment in Spain in 2022, up to 34,178 million euros; a fact that, according to the Government, confirms that “Spain is a competitive country, which attracts talent and investment”.