Take one company you like and try to identify what alternatives you have to select the Equity or Market Risk Premium (ERP or MRP) for this case. Name the sources and the rationale and make sure you provide more than one single option. I suggest that you compare different data and sources. Same for the Middle East: Saudi Aramco, IHC, Emirates Group, Qatar Airways, etc. What if a company ZZZ operates only in Spain? What if a company ZZY has 50% revenues in Spain and 50% in France? What if a company ZZY operates in Spain and France but we do not know the revenues breakdown? What if a company ZZY has 50% revenues in Spain and 50% in France but most of the operating profit comes from Spain