Since 1992, Spanish companies in a variety of industries have
acquired a prominent presence in the global economy, especially in
Latin America and Europe. Companies such as Telefonica, Banco
Santander, Repsol-YPF and Inditex (the owner of the Zara brand)
have catapulted themselves to become major international
competitors, making Spain one of the world's ten largest foreign
direct investors. Mauro Guillen offers not only an explanation of
why this has happened, but also an assessment of the economic,
financial, political and social consequences for Spain and for
Europe. In this 2005 analysis, he also addresses the weaknesses of
the Spanish multinationals, especially their lack of proprietary
technology and their primary focus on Latin America. The book
concludes with the argument that the Spanish multinational firms
ought to consolidate their European positions through mergers and
acquisitions, opening up new possibilities for further expansion in
North America and Asia.
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