May 7, 2021
In Spain and the founding family behind local gaming operator Codere SA is reportedly demanding that a pair of American investors be required to pay at least €900 million ($1.09 billion) for its large stake in the Madrid-headquartered firm.
According to a Thursday report from SBCNews, the Madrid-listed entity was established by Jose Antonio Martinez Sampedro in the 1980s and is today responsible for land-based and online gaming operations in Spain, Mexico, Argentina, Italy, Uruguay, Colombia and Panama. However, the source detailed that the founder was ousted as the Chief Executive Officer for Codere SA in 2018 as part of a plan that restructured company debts worth an estimated €1 billion ($1.21 billion).
Codere founding family demands €900m compensation from US investors Share
Grupo Codere SA is caught up in a further investor dispute, after the company’s founding
Martinez Sampedro family demanded that their minority shareholding be acquired by the firm’s remaining US investors.
The Martinez Sampedro family have filed an appeal with Spain’s
National Securities Market Commission (
CNMV), urging the regulator to demand that US investors acquire the family’s 14% stake in Codere for a minimum purchase price of €900 million.
The dispute relates to Codere’s 2018 bankruptcy restructuring, which saw a group of US investors take control of the firm, having renegotiated the firm’s €1 billion debt arrangements.
Spanish Tax Agency Issues Warning To Cryptocurrency Holders
Spain’s tax agency warns that almost 15,000 crypto owners could be fined if they don’t declare their holdings in their tax returns.
In brief
Spain s tax agency has issued a warning to cryptocurrency holders.
If crypto holders in Spain don t declare their holdings, they could be in line for a penalty.
Spain’s Ministry of Finance (Ministerio de Hacienda) has issued a warning that crypto holdings are taxable income, and if a crypto holder fails to declare these holdings, they would be in line for a hefty penalty, per
With the start of the new financial year, the Spanish tax offices are warning Spanish crypto holders of their tax obligations. According to the report in
Spain May Soon Regulate “Risky” Bitcoin Street Ads
Street ads promoting Bitcoin and other cryptocurrencies could soon face tougher regulation from Spanish authorities.
In brief
Spain s financial regulator wants stricter rules for street ads promoting cryptocurrencies.
Earlier this year, a local cryptocurrency trading platform launched a massive Bitcoin advertising campaign in Madrid.
Spain’s National Securities Market Commission (CNMV) wants to introduce stricter regulatory rules for outdoor advertisement promoting cryptocurrencies, Rodrigo Buenaventura, the organization’s president, said during a recent conference.
According to Buenaventura, the financial watchdog considers such ads “risky” and wants to consult its advisory committee, as well as launching a broad public consultation on the matter.