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Government given ok to sell shares in Spain businesses

Source: El Economista - Tue 15th Feb 2011

The Spanish Newspaper, El Economista, has reported how the government of Spain has given their state holding company, SEPI, authorisation to sell shares in Red Electrica Corp, International Consolidated Airlines Group and Ebro Foods.

The executive board of SEPI with Spain's Privatization Committee yesterday to show how the operations comply with transparency requirements and the committee's report is expected to be published in coming days, the newspaper said, citing unidentified people with knowledge of the matter.

The State owned investment company last month announced it's intention to sell up to 10% of it's shares of Red Electrica, up to 2.7% in IAG and as much as 8.65% in Ebro.

If the three stakes were to be sold at yesterday's closing prices the government would raise 875 million euros, the newspaper reported.

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