Brussels threatens to accelerate Spain if it is prohibited
Severo from Brussels to the government. The European Commission does not see reasons for the executive authority to prohibit or reject the general presentation of BBVA on Banco Sabadell and warns that it will monitor any decision adopted by the Pedro Sánchez in this regard Adapt to European regulations. In the capital of society, they understand that the competent authorities who can express their opinion on this agreement have already done so. Sources close to the agency that was previously consulted Economic information They realize that Brussels can begin a violation against Spain if there are unjustified restrictions on the operation. This statement comes after the head of the economy, trade and business, and the Carlos body, Lifting the process to the cabinet for reasons of general importance.
These authorities referred to by the committee were sharp. In September, the European Central Bank (ECB), which is considering the sheet of the entity resulting from fusion in the end, showed that there was no “opposition”. A few weeks ago, OPA also received the green light from the National Markets and Competition Committee (CNMC), the authority responsible for studying that the process is suitable for efficiency standards.
The sources that have been consulted affect the committee “No reason may justify the refusal or prevent it,” Therefore, the decisions adopted by the Spanish government will be consistent with what the European Central Bank and CNMC expressed and will not hesitate to use its powers as a “guardian of treaties”. “We hope that the Spanish government will agree with the decision of the competent entities,” and it affects.
In this way, the European Commission considers that monotheistic operations can be examined under the Prudential angle (ECB) and under the angle of competition (either by the committee or by the national authorities). And they add: “If the green light is given in both cases, there is no basis for stopping the process according to an estimated decision by the government of a member state.” The impact is that Brussels expects to cohesion between the position of member states that support the Capital Union and progress in the Banking Union “with its national policies in uniting banks.”
The Committee asked Spain about the situation of OPA months ago under the “European Union pilot”, a mechanism that applies When it is necessary to keep a dialogue with a member state On compliance issues of societal regulations. Brussels has received a response from Spain on October 11, 2024 and since then the process is studying.
The authority raised OPA to the Council of Ministers
The Minister of Economy and Trade and the company, Carlos Corra, announced on Tuesday that BBVA OPA’s decision to BBVA. Sabadil BankWithin the framework of Law 15/2007, on July 3, to defend the competition. The minister builds the decision regarding Causes of the public interest that is not competingRegarding the potential impact of employment on workers’ protection, in regional cohesion, in promoting research and technological development or in social policy objectives, among other things.
The administration has led Carlos, a body, which showed his rejection of the operation since it was announced more than a year ago, before the witness was transferred to this member, who has the ability to harden the conditions imposed by CNMC, and even the possible veto, which he does not buy. The final decision on this has the shareholders of the Catalan bank. Currently, the cabinet now has 30 days in evaluation of a decision in this regard, until June 27.
Although the final opinion is clarified by the economy with the issuance of a ministerial order, it takes into account contributions from five other ministries: those related to tourism, tourism, social economy, environmental transition, demographic challenge, social rights and 2030 business schedule, in addition to the management of inclusion, social security and immigration. As the body itself explained, the internal analysis that was explained throughout these weeks indicates the need to “deepen the vision” about the process, although without judging the final decision.
