Zapatero orchestrated the raid on Spain's Prisa after buying 7% stake
Zapatero orchestrated the purchase of a 7% stake in Prisa to oust its chairman. The operation was carried out through his lobby via the firm Global Alconaba.
English · Original discussion in Spanish · Published
Zapatero orchestrated the raid on Spain's Prisa after buying 7% stake
Former Spanish Prime Minister José Luis Rodríguez Zapatero reportedly orchestrated an operation over the past year to take control of the Prisa group, publisher of El País, according to El Economista. The move was executed through his lobby via the firm Global Alconaba, which acquired 7% of the share capital. The stated goal: to push out Joseph Oughourlian, the current chairman who months earlier had defied the Government by firing the CEO and preparing the removal of executives close to La Moncloa, the Spanish PM's office.
Global Alconaba's play
The operation fits into a long tradition of political interference at Prisa, a group that has historically been a battleground between factions. Oughourlian, a Colombian investor of Lebanese origin, became chairman in 2023 and soon began to distance himself from the group's editorial alignment with the Government. Last February, he dismissed the CEO and forced out several executives close to the former management, which was interpreted as a direct challenge to Zapatero and his allies. The response, according to the report, was the creation of Global Alconaba to buy the 7% needed to tip the balance on the board.
Widespread cynicism
Reactions in media circles have been mostly sceptical. While some see the operation as confirmation that Zapatero still pulls the strings of Spanish politics from the shadows, others reduce the episode to the usual corporate squabbling that has characterised Prisa since its origins. What nobody disputes is that the battle for control of the most influential newspaper of the Spanish left remains open, with Oughourlian holding out and the former prime minister trying to regain control of an instrument he considers key to his legacy.
The unanswered question is whether this time Zapatero's move will be enough to regain editorial control of El País, or whether, as some analysts suggest, Oughourlian has enough backing to withstand the assault. Time, and the next board meetings, will tell.
Related discussions in the forum
Former Spanish Prime Minister José Luis Rodríguez Zapatero reportedly orchestrated an operation over the past year to take control of the Prisa group, publisher of El País, according to El Economista. The move was executed through his lobby via the firm Global Alconaba, which acquired 7% of the share capital. The stated goal: to push out Joseph Oughourlian, the current chairman who months earlier had defied the Government by firing the CEO and preparing the removal of executives close to La Moncloa, the Spanish PM's office.
Global Alconaba's play
The operation fits into a long tradition of political interference at Prisa, a group that has historically been a battleground between factions. Oughourlian, a Colombian investor of Lebanese origin, became chairman in 2023 and soon began to distance himself from the group's editorial alignment with the Government. Last February, he dismissed the CEO and forced out several executives close to the former management, which was interpreted as a direct challenge to Zapatero and his allies. The response, according to the report, was the creation of Global Alconaba to buy the 7% needed to tip the balance on the board.
Widespread cynicism
Reactions in media circles have been mostly sceptical. While some see the operation as confirmation that Zapatero still pulls the strings of Spanish politics from the shadows, others reduce the episode to the usual corporate squabbling that has characterised Prisa since its origins. What nobody disputes is that the battle for control of the most influential newspaper of the Spanish left remains open, with Oughourlian holding out and the former prime minister trying to regain control of an instrument he considers key to his legacy.
The unanswered question is whether this time Zapatero's move will be enough to regain editorial control of El País, or whether, as some analysts suggest, Oughourlian has enough backing to withstand the assault. Time, and the next board meetings, will tell.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (7 replies).
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