The Internationalisation of Ownership of the Spanish Railway Companies, 1858-1936

J. V. Olivares and P. P. Ortunez

Business History, 2002, vol. 44, issue 4, 29-54

Abstract: This article examines the ownership structure and management of the Compania de los Ferrocarriles del Norte de Espana (Norte) and the Madrid to Zaragoza & Alicante Railway Company (MZA), the two most important railway companies in Spain between 1858 and 1941, when the network was nationalised. When the companies were established, the majority of the shareholders were French. From the end of the nineteenth century, Spanish investors had begun to buy equity, and by 1924 Spanish banks could finally exert control over Norte, but the French Rothschild family retained control of MZA. During this period the Spanish state also started to intervene in the railway system and in the leading railway companies.

Date: 2002
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DOI: 10.1080/713999284

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