Portugal

"The US launch has given the company’s staff a boost in confidence. Less than a week later, the first store in Spain opens. Over the following years, Stefan Persson cuts ribbons at new H&M stores in countries including Poland, Portugal, and the Czech Republic. H&M now sells more than five hundred garments per minute worldwide. And Stefan Persson has fulfilled his promise of reaching America."

"1992Media Capital SGPS in Lisbon, a corporate group of magazines and broadcasting stations, is sold to Nicolas Berggruen for 29 million dollars. Apparently, the first media company of Portugal, founded in 1988, ran into difficulties and needed a cash injection. As is often the case in practice, such capitalization leads to the loss of independence. The investor becomes the boss. In industry circles, there is speculation that the deal in Lisbon was initiated by the Domingos. Having already owned a media conglomerate in South America, which included among others the most listened-to radio stations in Colombia, they wanted to expand their empire to Europe. The entire Spanish-speaking world was to belong to the Domingo family. At that time, Nicolas Berggruen was still relatively unknown in the investment market; he could discreetly set in motion the Domingos' assault on the media landscape of Portugal and Spain."