Scottish power share sale & Iberdrola

janicearcher · 7 March 2007 at 9:28AM

Hi - having read through the tome that came recently on the subject of the above share sale I'm left thinking the easiest option is to sell all my Iberdrola shares when the sale goes through.

The prospect of being tied up submitting spanish tax returns, paying spanish tax and proving my UK identity for future dealings with Iberdrola puts me off completely.

Anyone any thoughts or advice on this front?

Cheers,
Janice

Jake'sGran · 7 March 2007 at 6:44PM

I was just going to do a new post on this subject when I spotted yours. They did mention on Working Lunch yesterday that foreign shares are expensive to sell but I have not looked into that yet. I must admit that I have not read it all yet but if what you say is correct - Spanish tax returns etc I will have to sell. I did take some foreign shares when Exel sold to Deutsche Post so I will need to fish out all the papers on that too. At the moment they are worth £2230 approx which is quite nice. Sorry I could not offer any advice on thus one and I'm surprised no one else has responded.

jem16 · 7 March 2007 at 6:48PM

I had already decided to sell my Scottish Power shares as I only had 192 shares and did so 2 weeks ago. I'm glad I did now as I still got all the bumph through and really don't fancy the idea of the problems associated with having Spanish shares.

jennifernil · 8 March 2007 at 1:47AM

I think I will sell mine too. I am still wading through all the literature!

gazhawkins · 8 March 2007 at 6:30PM

The other issue you have with holding non-UK shares is currency risk.

If the Euro goes down against the pound, then your shares are worth less if you sell them in Sterling. Of course, this can work the other way around in your favour.

Note: if the Spanish share price goes down AND the Euro goes down vs. the pound then you get doubly stuffed.

mystic_trev · 8 March 2007 at 6:39PM

I've sold mine too. They we're in my SIPP and would have become a bit of a nightmare to handle.

jennifernil · 9 March 2007 at 12:40PM

Looking at share prices, am I correct in thinking that the quoted price is not what you get when you sell? (I haven't sold any shares before!)

If the shares were quoted at say 770p, what price would I get if I sold?

brodev · 9 March 2007 at 12:56PM

sorry to sidetrack this for a minute but I am in spain for the winter and I do own some SP shares. can someone either tell me what is happening or give me a link to find out. TIA

jennifernil · 9 March 2007 at 3:50PM

Iberdrola are supposed to be buying Scottish Power. You will have had some literature sent to you and there are forms that need to be returned if you want to sell the Iberdrola shares for free once you get them.

For each SP share you own you will get a 12p special dividend, £4 in cash, and 0.1646 of a New Iberdrola share. These are the ones that you can have them sell for you as soon as you get them or within a certain time.

I will see if I can find a link.

jennifernil · 9 March 2007 at 3:56PM

If you go to https://www.scottishpower.com there is information on their website.

jem16 · 11 March 2007 at 10:36PM

jennifernil wrote: »

Looking at share prices, am I correct in thinking that the quoted price is not what you get when you sell? (I haven't sold any shares before!)

If the shares were quoted at say 770p, what price would I get if I sold?

If I remember correctly I got £7.83 for each share minus £15 in total for charges.

Scottish power share sale & Iberdrola

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