Axpo raises EUR 500 million on the European money markets
Axpo needs the 500 million euros to finance ongoing business activities.
top. In order to finance ongoing business activities, Axpo raised EUR 500 million on the European money markets. This is what the energy company writes on Monday evening (19.12.) in a message. The company launched its first program for tradable European money market instruments through its subsidiary Axpo International SA. The proceeds from trading in the so-called “Negotiable European Commercial Paper” (NEU-CP) are used to finance the business, writes Axpo. The NEU-CP market is “an important and transparent European capital market for international companies to issue short-term debt securities”.
Energy companies have to deposit collateral on the European energy exchange EEX. Because the electricity market is volatile, the amounts for this have risen sharply in recent months. Axpo needs liquid funds to be able to pay for them.
EU Commission closes investigations against Meta and Google
The EU Commission is ending its investigation into Meta and Google.
(dpa) The EU Commission is no longer investigating the Facebook group Meta and Google because of possible distortion of competition in online advertising. After considering all the relevant evidence, the commission came to the conclusion that its initial concerns were unfounded, as the competition watchdog announced on Monday. The investigation is therefore discontinued. After the companies were formally informed of the investigation in March, those involved had the opportunity to dispel any doubts. This has obviously succeeded.
Google and Meta are fundamentally competitors in the online advertising market. According to an agreement from 2018, Facebook also takes part in auctions for ad space on a Google platform. The Commission had feared that the cooperation could weaken competing technologies and exclude them from the display advertising market. So-called display advertising is, for example, classic banners that are displayed on websites, but also pop-ups or other graphic advertising elements.
EU Commission: Meta probably distorts competition on Facebook Marketplace
The EU Commission accuses the Facebook group Meta of imposing unfair trading conditions on competitors.
(dpa) According to the preliminary opinion of the EU competition authorities, the Facebook group Meta violates European antitrust regulations by distorting competition on Facebook Marketplace. Specifically, according to a statement on Monday, the EU Commission is complaining that Meta is unilaterally imposing unfair trading conditions on competing online classifieds services that advertise on Facebook or Instagram. In addition, Meta links the Facebook Marketplace to its dominant social network, Facebook.
Facebook users would have automatic access to the classifieds portal, “whether they want it or not”. According to the statement, the Commission suspects that Facebook Marketplace has a significant sales advantage that its competitors cannot compensate for.
The group now has the opportunity to dispel the doubts about its classifieds service. If the EU Commission nevertheless comes to the conclusion that there is sufficient evidence of violations, it can impose a fine of up to ten percent of Meta’s worldwide annual turnover.
Porsche is in the DAX
The DAX welcomes Porsche on Monday morning.
(dpa) The sports car manufacturer Porsche was included in the DAX on Monday morning. However, the symbolic ringing of the bell at the beginning of trading was delayed because the plane with the Porsche bosses could not take off due to the weather, as the company announced. According to a stock exchange spokesman, the event for inclusion in the leading German index should be made up for at lunchtime.
The quick entry into the DAX makes Porsche “happy and proud,” said CEO Oliver Blume, according to a statement. Investors worldwide are convinced of the company’s business model.
The Volkswagen subsidiary from Stuttgart went public at the end of September. After years of speculation and months of testing, Volkswagen raised almost 9.4 billion euros with the IPO. It was the largest initial issue in Germany since Telekom in 1996. The issue price was EUR 82.50 per preferred share. On Monday morning, the shares were listed at EUR 95.34.
What is the Porsche IPO all about? The most important answers