CNMC is rushing to decide on takeover bid: we don’t believe it will block it
National Commission for Markets and Competition (CNMC) is at the final stage of making a decision to approve the Tender Proposal (takeover bid) from BBVA at Banco Sabadell in stage 1 or if you move it to stage 2 for a more detailed analysis, which in certain scenarios will require government intervention. “We do not believe that the CNMC will block the operation, but it may give an unfavorable conclusion,” he says. Ignacio Cantosinvestment director atlCapital.
listen to him Full session analysis on Ibex 35 on the open market with Rocio Arviza:
We look at the Socimis tax hit, as well as ACS, Inditex, Iberdrola and the banking sector. We see this in the case of Ignacio Cantos, investment director at atlCapital.
What does it mean to pass stage 1?
Within Competition LawThe merger control process consists of two stages. In the first stage, which lasts a maximum of one month, the transaction is assessed and it is decided whether it should be archived, authorized (with or without obligations) or requires a more comprehensive analysis due to possible competition problems, which could lead to a second stage with participation of interested third parties.