A Merril Lynch report states that the exposure to Greece is around €200 million. However there is considerable exposure to Portugal: The net assets of Santander’s Portuguese subsidiary, Totta, totalled €2.7bn which compares with Santander’s group equity of €74bn. Totta’s total balance sheet is around €46bn. BBVA’s Portugual operations by contrast do seem to us … Continue reading Banco Santander´s exposure to Greece
Tag: Euro
Parmalat, a rebirth
Who doesn´t remember the Parmalat logo on the front of the F.C. Parma kit? Or the gigantic bankruptcy that ended that sponsorship deal? Well, Parmalat is back. After serious restructuring the company as returned to profitability and with a very strong balance sheet, it seems like an interesting investment. In the first quarter of 2011 … Continue reading Parmalat, a rebirth
The Greek Organization of Football Prognostics (OPAP)
I while ago I posted a excerpt from Buffett in which he explains his idea of the prototype of a dream business (See´s Candy). You can read it here. The dream business has the following distinguising characteristics: See’s Candy has not a growth company as CAGR has only been about 2% but it has strong … Continue reading The Greek Organization of Football Prognostics (OPAP)