The consent of the competition is not final and the ball is now on the roof of the Spanish government. An acceptance period is now opened, called phase 3, which can be extended until September.
Almost a year. This is what the National Commission of Markets and Competition has taken (CNMC) When analyzing and approving the hostile grandfather launched by the BBVA on the Sabadell Bank. The Judgment is not finalBecause the last “yes” is the responsibility of Spanish governmentSpecifically to the Ministry of Economy, the Trade and the Business, which can even increase the matter to the Council of Ministers. The executive power must analyze the conditions imposed by the Commission and has the authority to harden them, although there are no precedents. The final approval of the transaction could extend to autumn.
This is the calendar:
– Phase three starts with the approval of a grandfather through the CNMC. The supervisor will inform your decision Ministry of EconomyTrade and Company, and Minister Carlos Body has 15 working daysThat is up to the May 22, To decide whether he brings the issue to the council of ministers.
– Since director Sánchez has shown his opposition against the grandfather, it is taken for granted that the offer will be taken Minister. This one one month skilled to pronounce. That is why the decision of the executive power, which can only impose conditions that influence the general interest, will only come to June 22.
– Then it will be the National Securities Market Commission (CNMV) That approves the access brochure.
– Then A Acceptance periodWhose expensive – one of the 15 days and just over two months, 70 days – establishes the BBVA. The decision will then transfer to the Sabadell -Shareholders. Although it is difficult to give up the dates, the process starts JulyAt the gates of the practically inactive month of August.
– So, and in the event that all deadlines are exhausted and the Spanish government imposes new conditions, the final resolution could already take place autumn.
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.
