The Spanish Confederation of the Small and Medium Company (Cepyme) Speak for the first time in public about BBVA’s OPA about Banco Sabadell. And he does it to convey in a statement that the National Commission of Markets and Competition (CNMC) … It should allow to participate in the analysis of the operation to business organizations. It aligns, in this way, with the Catalan employer promotion of work, which was prevented from appearing in the file.
Labor promotion, like others more than 70 organizations, tried to appeal in the CNMC file on the OPA, since this allows legislation. The objective is to transmit to competition their arguments against the operation, the reasons why this acquisition would be bad news for companies.
The CNMC decided to reject all the challenges presented, except that of Sabadell himself, based on the fact that it was not enough to argue a general interest in the operation. And the Catalan employer has taken the case to the courts to be the National Court who decides if he has the right to intervene in the analysis process. He even requested precautionary measures that are still to be resolved and could bring the temporary stoppage of the operation.
Under this scenario, Cepyme He wanted to show his support for work promotion, as well as Galician businessmen, in his struggle to be part of the file in the CNMC. The position of the Catalan employer has always been rejected to the operation to prevent Sabadell from disappearing and that planned to transmit to competition.
«Cepyme adds to the requirements for the promotion of work and the Confederation of Entrepreneurs of Galicia, in order to take into account all interested parties, mainly to small and medium entrepreneurs. In this sense, it is necessary that the personation of business organizations be accepted in the analysis of the operation, which is legitimized by its function as defenders and representatives of the interests of the companies ”, includes the organization directed by Gerardo Cuerva.
“He Delicate character of the proposed concentration and its possible implications in critical aspects for the development of the productive fabric, such as the credit supply, forces the allegations of all interested parties to be taken into account, ”adds the employer of SMEs in its statement.
It does not enter to evaluate the operation itself, but qualifies it as “delicate” for its possible implications in the credit to SMEs. Precisely, Sabadell uses the argument of the impact on SMEs to reject the operation: that too much bank concentration would be generated in a few actors and credit would be reduced to companies, particularly small and medium -sized. It is for this reason that even the Catalan financial entity has come to claim in public that the CNMC would have to force BBVA to sell part of the SME business in case the OPA triumphs.
However, as ABC published, the CNMC has already carried out a market test in its phase 1 analysis in which it asked some business organizations their position and opinion about the OPA. The response of the entrepreneurs was warning about the negative impact that it will have on credit to companies in Spain.
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