OHLA - comment

The interview with the OHLA CEO contained some new information. If OHLA loses the Qatar (Sidra) case, it has the cash to pay, and José Elías is unlikely to be welcomed back onto the board, which is a negative for governance. Previously the Amodio’s delayed the sale of the Canalejas stake because they didn’t like the price, which directly led to the liquidity crisis in December 2024. We are not confident that anything has changed.