Bill Gates has invested in FCC, which is a clear sign that foreign investors are interest in Spain. Gates acquired 6% of the company to become the number two shareholder behind Esther Koplowitz, who is known for the various humanitarian foundations that she leads. This is the first time that Gates has made a direct investment in a Spanish company.
This event shows that our country has a strong chance for success. At the same time, emerging economies like China are losing investor interest while Spain shines among the peripheral EU economies because prices are low and yield expectations are high.
There are more examples. The fund Apollo bought Evo Banco, various real estate funds are interested in Sareb shares, and Colombian millionaire Jaime Gilinsky bought an enormous stake in Sabadell to become its primary shareholder. Yesterday Ferrovial sold 8.65% of Heathrow Airport to the United Kingdom's s pension fund investment team.
Gates is not the first foreign investor, but perhaps the most famous, to place a bet on our economy. His move pushed up FCC shares 8.3% to 16.97 euros per share. The spike resulted from the purchase, not FCC's fundamentals. The company needs to refinance 5 billion euros of debt. Gates's investment is a big help for FCC, but it may still need to issue new shares in order to get the operating capital it needs.
