Brussels Expands Infringement Proceedings Against Spain and Requires It to Remove the Government's Veto Power over Bank Mergers
13 Articles
13 Articles
For the EC "Bank consolidations benefit the EU economy as a whole and are essential for the achievement of banking union".
The European Commission believes that the legislation applied to impose conditions on the acquisition violated EU law. Brussels is maintaining its investigation into Spain despite the failed takeover bid because the legislation may conflict with EU regulations.
The European Commission takes a step further in the attention to Spain for its role in BBVA’s OPA on Banco Sabadell. The Community Executive has sent a letter of formal notice urging the State to change its veto power on mergers within two months. “The Commission considers that the Spanish measures in question are incompatible with the new framework of the CRD VI Directive governing acquisitions, mergers, divisions and other structural changes a…
The Commission points out that the actions of the Ministry of Economy led by Carlos Corps to the operation of BBVA to buy Sabadell is "incompatible with the new framework established to regulate acquisitions, mergers, divisions and other structural changes that affect credit institutions" Brussels sends to Spain by the rules that allowed the government to hinder the merger BBVA-Sabadell The European Commission again questions the actions of the …
The European Commission has extended the open infringement procedure on Spain which convulsed the final part of the opa launched by BBVA on the Sabadell Bank in June last year. Although the Brussels requirement does not affect or refer exactly to the operation that ended up being frustrated in the final tranche of 2025, it did give a warning about the rules that apply in the country in terms of mergers and acquisitions, which is not properly upd…
The Commission will send a new letter to the Executive to amend the laws that allowed it to interfere in the operation. And if the answer is not satisfactory, it will issue a reasoned opinion, which is the first step to go to the TJUE Read
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