Iberdrola : Conference call confirms the merits of the divestment of assets in Mexico
>Outperform rating reiterated but target price adjusted to € 13.8 vs € 13.0 - Following the presentation on the divestment of the group's production assets in Mexico, the details provided by management underline our initial sentiment that the financial and political impact will be positive for the group. Iberdrola detailed the accounting impact of this operation, with a limited dilution than we had calculated first off. However, the main point resides in the financial...Iberdrola is a holding company. Through its subsidiaries, Co. operates in four segments: network business, which includes all the energy transmission and distribution activities, and other regulated activity originated in Spain, the U.K., the U.S. and Brazil; deregulated business, which includes electricity generation and sales businesses as well as gas trading and storage businesses carried on by Co. in Spain, Portugal, the U.K. and North America; renewable business, with activities related to renewable energies in Spain, the U.K., the U.S. and the rest of the world; and other businesses, including the engineering and construction businesses and the non-power businesses.
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