Reuters
Spain's Supreme Court has dismissed a 4 billion-euro ($4.33 billion) claim filed by toll-road operator Abertis against the Spanish government over a highway concession, the court said on Monday, causing a sharp drop in shares of Abertis owners. Shares of ACS and Hochtief, were down 7.9% and 8.7% respectively following the news, with Jefferies analysts saying some in the market had been expecting an award of at least 1 billion euros from the court. ACS has a 50% total stake in Abertis and Hochtief 20%.
