The takeover is creating uncertainty for an industry which at the moment is working well in Spain. The lack of an industrial plan heightens this.

We will defend the legality of the measures we have taken. We think they are in line with European law. Our government attorneys will reply to the European Union's request in that vein.

Every country wants leading companies. Why should Spain renounce its right to one?

The interests at stake exceed what are conventionally called market interests.

Every nation tries to protect industries it considers strategic. No government should neglect any resource it has to protect interests it considers legitimate and within law.

We are recommending our clients to try to avoid the second half because the uncertainty with the electoral picture may bring volatility. It will be a period of increased risk, but we might be positively surprised.