There are no precedents in which the Spanish government has hardened the purchase conditions of a merger.
The National Markets and Competition Commission (CNMC) has approved this Wednesday, ObligationsThe possible purchase of Banco Sabadell for the BBVA, which opens the door for the Spanish government to comment on this operation and even the conditions for carrying it out.
After a long meeting That ended after 7:30 pm, the competition room, formed by five members, including the president of the CNMC, Cani Fernández, the green light unanimously gave the opinion, without any voice, according to sources close to the process.
As competence, the operation second to the fulfillment of obligations or conditions, The resolution is not sturdy to the Minister of Economy, Carlos Bodyhas decided to set up the issue to the council of ministers or not.
Given the opposition of the government against the operation from the beginning, it is taken for granted that the body will decide the issue to the council of ministers in the 15 -day period This collects the standard, although the BBVA is convinced that the conditions of the CNMC Bastan to resolve the doubts of the executive power.
The 2007 Competention Defense Law It makes it clear that these conditions must be properly motivated in reasons of public interest, other than the defense of competition, such as national security, environmental protection or innovation promotion.
There are no precedents In which the Spanish government has hardened the purchase conditions of a merger.
Almost a year of operation
The BBVA launched the Grandpa on Banco SabadellWith the idea of integrating the Catalan entity into its group and to obtain a saving of 850 million in three years, that the CEO of Sabadell, César González-Bueno, is impossible to reach without a merger of the two entities.
The Spanish government has come across public from the first moment To a merger of the BBVA and the Sabadell, but the doubt is what it will do now after the unanimous approval of the CNMC, something that waited for the National Securities Markets Commission (CNMV).
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
