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BAD MOVE

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Soaring costs

Soaring costs

THE proposed departure of Spanish construction conglomerate Ferrovial to the Netherlands for ‘a better business environment’ has set off a firestorm of finger pointing in Madrid. Ferrovial, which is part owner of Heathrow airport and generated almost 90% of its revenues from outside Spain last year, said it views the Netherlands as having a more stable legal framework. The infrastructure company also sees potential for lower financing costs due to the country's ‘AAA’ credit rating - as opposed to Spain’s A rating.

A government spokesperson slammed the move of Spain's

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