Sep
03
European Finance Chiefs Struggle to Spend Cash
ByStronger profits and pressure from negative interest rates are prompting European CFOs to splurge on buybacks, dividends and capital investments
Finance chiefs at European, Middle Eastern and African companies have a luxury problem: figuring out how to spend $1.1 trillion in cash.
The top cash hoarders in the region are Total SA TOT -1.38% with €29.2 billion ($33.9 billion), Electricite de France SA EDF -1.38% with €28.3 billion and Volkswagen AGVOW3 -2.06% with €27.3 billion, according to a report by Moody’s Investors Service. The data covers 757 nonfinancial companies based in Europe, the Middle East and Africa and showed cash levels reached a seven-year high at the end of 2017…
