Waiting for the Grifols – Finanzas.com

Podcast transcript

Grifols’s delay in responding to the CNMV’s requests to clarify the most controversial points that Gotham City reflected in its report has something of a tragicomedy, a work that belongs to the theater of the absurd. Specifically, Waiting for Godot, which in this case can be adapted as Waiting for Grifols.

Investors, like the protagonists of the work, are waiting for something that shows no signs of appearing, in this case Grifols’ explanation of his ties to the Scranton firm, which raises many doubts in the market.

On January 11, the CEO of Grifols assured that his company is working to prepare a response to the CNMV demands and will send it as soon as possible. He confirmed that the regulator gave him 10 days to do this.

The problem is that more than 10 days have passed since the CNMV transmitted its request to Grifols, so we do not know whether the supervisory authority’s headquarters has another way to measure the requested time frame.

Grifols: dress me slowly because I’m in a hurry

The fact is that Grifols seems to be clinging in this case to the Spanish proverb, that is, the famous dress me slowly, because I am in a hurry, since he is in no hurry to answer, although time is working against him.

And the CNMV is also not very transparent in this process, not specifying the exact time frame in which Grifols must send the information. The only thing the regulator has confirmed is that it will not make public Grifols’ response to his demands.

This delay in getting to know the information leads to increased distrust in Grifols, since it seems unjustified that in an extreme situation the company takes time to provide data that it should have had in perfect order.

In fact, the analysts who initially closed ranks around the blood products company’s valuation are now starting to jump out of the bandwagon.

Imitating the characters in Samuel Beckett’s famous work, Grifols “will not come today, but he will surely come tomorrow.”

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