The truth is that, I have to admit, I slept much more peacefully tonight knowing that there has already been smoke…white…?, smoke…black?, (that has not been very clear to me Mr. Buenaventura) regarding the financial state, accounting and reputational Grifols who has analyzed the CNMV reportand whose conclusions have been known almost three months after the pharmaceutical company collapsed in If so‘victim’ of the Gotham offensive.
And if investors interpreted positively, first thing in the morning, what the document of the organization that presides concludes Rodrigo Buenaventura in which it is said that there are accounting deficiencies in your accountsthat the liabilities are what they are, (of course…that is irrefutable) and that it is not necessary to reformulate the company’s accounts, now the red numbers have returned and the securities fall, forcefully for another day, and fall by 7% .
The CNMV no longer acted as it was supposed to have acted in January, that is, suspending Grifols’ trading, the first day the Gotham report was made public, when the stock lost 40%.
But beyond the reaction of uncontrolled volatility in the Grifols quotein which the company has been operating since January 9, the discredit of the CNMV is unquestionable to such an extent that Rodrigo Buenaventura should resign.
what it says Gotham City in the different reports is that the family has emptied the company (through an asset vehicle) and that the company is worthless. And these are big words.
If this is so, the owners of Grifols have deceived all shareholders. Spain is supposed to be a serious country, that we have a CNMV that is in charge of look out issues like this, which are assumed to protect small shareholders with respect to the big ones, like the Grifols family, and yet, the behavior of the National Securities Market Commission has been, and is, painful.
The Spanish stock market, all the companies listed on it, cannot be questioned by a report from an analysis agency that, according to experts, is very easy to refute (if it has to be done). If what Gotham says is true, the CNMV has to ‘paper’, tighten the siege on the Grifols, and be much tougher, even, than the SEC would be in the United States. If it is not true, it must be refuted with data and explained to investors, and thus, the stock would not be mired in that crazy swing that it has been in since the beginning of the year.
The discredit of the CNMV is total. It cannot be allowed that, due to the situation, and the accounting circumstances of an insignificant company, if we compare it with the giants listed on the Ibex, such as Grifols, the entire company is being called into question. Spanish stock market.
Remember that the CNMV no longer acted as it was supposed to have acted in January, that is, suspending Grifols’ listingthe first day on which the Gotham report was made public, which inaugurated an entire soap opera of documents that continues to be published today.
And regarding Monserrat Martínez Parera, Not only will she not be reproached for her terrible performance in the very serious Grifols matter, but, apparently, she will be rewarded by naming her deputy governor of the Bank of Spain
The Government wants to replace Hernandez de Cos by Ángel Ubide and that Martinez Parera be his second.
Those who follow these matters highlight Ubide’s links with the PSOE, specifically with Pedro Sanchez.
What Gotham City says in the various reports is that the family has hollowed out the company (via an estate vehicle) and that the company is worthless. And these are big words
About Monserrat Martínez, her relations with the PSC, and that she has already passed through the Plaza de Cibeles because she was chief of staff of Fernando Restoy when he was deputy governor of the Bank of Spain in times of Luis María Linde.
It is said that the PSOE, that the Government, demands from the PP an agreement to renew the General Council of the Judiciaryin exchange for not breaking the unwritten pact by which the party in power (understood as PP or PSOE), appointed the Governor of the Bank of Spain, and the one in the opposition, the deputy governor.
Something that has already been passed through the triumphal arch, (excuse the expression) José Luis Rodríguez Zapatero when he placed Miguel Ángel Fernández Ordoñez (MAFO) as governor already Jose Maria Vinals as the supervisor’s number two, in 2006.