Caixabank: potential merger with Bankia
(CercleFinance.com) - Bankia confirms that it is in talks with Caixabank to study a potential merger between them.
The group says that a proposal to launch a study and analysis has been submitted to Bankia's management. This proposal will enable the Board of Directors to take a decision, based on the right advice.
The fund that bailed out banks in Spain would hold 14% of the new entity if the merger is completed, El Confidential says.
This potential merger will be closely watched throughout Europe as the ECB calls for mergers between banks. But here again it is a national project and not a cross-border one, Aurel BGC said this morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group says that a proposal to launch a study and analysis has been submitted to Bankia's management. This proposal will enable the Board of Directors to take a decision, based on the right advice.
The fund that bailed out banks in Spain would hold 14% of the new entity if the merger is completed, El Confidential says.
This potential merger will be closely watched throughout Europe as the ECB calls for mergers between banks. But here again it is a national project and not a cross-border one, Aurel BGC said this morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.