Pimec has announced that he will appear before the National Markets and Competition Commission (CNMC) for the “negative impact” that in his opinion the BBVA takeover of Banco Sabadell.
“Given the CNMC’s decision to initiate phase two of BBVA’s hostile takeover bid for Banco Sabadell, the Executive Committee of Pimec has agreed this afternoon to appear before the organization as an interested party,” the employer’s association reported in a statement.
The organization you lead Antoni Cañete warns that this operation “could significantly alter competition in the banking sector, with direct repercussions on financing conditions for companies, especially SMEs.”
Pimec considers that, based on the conclusions of the SME Observatory study, that this process “would have a negative impact on both the economy and society as a whole.”
According to this report, The transaction could lead to an 8% reduction in credit availabilitya decrease that translates into more than 54,000 million euros in loans.
Last week, the small shareholders of Banco Sabadell They also requested to be an interested party in the file opened by the CNMC. The Barcelona Chamber of Commerce and ACCO (Catalan Competition Authority) are also preparing their allegations, according to what was announced. The Vanguard.
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