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Ortega, who controls 59% of Inditex, has to invest that amount within the year because of the legal and fiscal rules that govern family offices like his Pontegadea.

Forecasts for the primary results are also positive for the current year, compared to previous estimates.

The first bid price for the specific plot is €2,633,206.40 and the auction, which will take place via E-auction.

Moody's expects that Athens will also benefit from reduced systemic risk, as captured by the change in outlook on Greece's rating of Ba3 to positive from stable.