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The Journal April 2018

Pragma Journal - April 2018
M&A: What to Expect in 2018?

Ann Bruggeman

The market and activity of mergers and acquisitions (M&A) is a clear reflection of the economy and politics of a country.

On a global level, 2016 and 2017 were extremely good years in the M&A practice, transactions in stocks and bonds were very high, with volumes similar to the maximums that have been recorded during the golden years in 2006 and 2007.

The "Battle" on TIM between the French and the Americans: an Example of How Important Governance Is

Massimiliano Desalvi

TIM is the most important telecommunication company in Italy; a short time ago Vivendi acquired a percentage of the capital of less than 30% and appointed the majority of the directors, although declaring that they were not in control of the company (because in this case they would have taken on the budget and the need to dispose of the participation in the meantime acquired in a company that holds television concessions).

Now also the Elliot fund has become a shareholder of TIM, with a percentage on capital of less than 10%.

Portuguese Citizenship for Sephardic Jewish Descendants

Filipe Consciência

With her capacity for initiative and persistence, Cecília Caria Mendes has actively collaborated in the development and implementation of legislation that, in Portugal, since 2015, has allowed the right of return of Sephardic Jewish descendants (Jews descended from the ancient and traditional Jewish communities of the Iberian Peninsula) of Portuguese origin who so desire, by acquiring Portuguese nationality.

The Portuguese citizenship, by naturalization, is granted to the descendants of Portuguese Sephardic Jews.

Credit Card Evolution: Goodbye John Hancock

Louise Giannakis

For years, the signature requirement for completing a credit card transaction has felt something like an obsolete means of confirming a user’s identity.

Effective this month, however, four of the country’s largest credit card providers: American Express, Discover, Mastercard and Visa, will no longer require a signature to complete a purchase via credit card. The change is considered optional, leaving much discretion in the hands of retailers as to whether or not to require a signature. 

Fintech in Mexico: Growing Investment Opportunity

Aline Arbesú

Financial technology gives rise to numerous business opportunities and is currently positioned as one of the most useful tools in the financial market.

The companies use technological platforms to offer all kinds of financial services to their clients as well as the possibility of operating in different markets in an agile, efficient and friendly way, either through the direct use of the financial system or indirectly through the design of customized solutions.

Important Judgment in Relation to the City Tax on the Value of Urban Land

Salvador Balcells

Recently the law firm Manubens Abogados, while conducting a case in court by Inés Berriozabal, senior tax lawyer in the firm, has obtained the first judgment in Spain upholding  the appeal against of the City Tax on the Increase in the Value of Urban Land in case of a property transfer with capital gains for the seller.

The importance of the ruling lies in the fact that it opens the doors to appeal the real estate transfer tax in all cases: either in case of loss or gain.