The nationalist employer Pimec torpedoa BBVA’s OPA on Sabadell in Brussels

The traditional Catalan economic fabric has embarked on a crusade for Make BBVA’s OPA on Sabadellthat somehow threatens the control over the decision making of an entity on which the financing of two out of three SMEs in the territory depends.

The main representative employer of the Catalan SMEs, Pimec, of nationalist guidance, has decided to take advantage of a public consultation process opened by the European Commission to test the progress of the progress of the European Union towards a single market to transfer their European authorities their concerns about the operation.

“Speaking of the concentration of services in the hands of a few actors,” says the contribution sent by Pimec to the European Commission, “the operation of BBVA and Sabadell could have a significant impact on competition In the banking sector in Catalonia, ”slides, reinforcing an argument that has already been used by the Government of Spain.

PIMEC informs of the European authorities that, according to their estimates, the result of this operation would be that the two main banks, by Caixabank and the entities resulting from the BBVA and Sabadell operation, They would have three out of four offices Banking in Catalonia and, consequently, they ensure, “the operation would negatively affect the diversity of supply and competitiveness in the market.”

In a consultation on the single market, Pimec urges European authorities to observe the Catalan dimension of the operation and warns that its realization would lead to an 8% reduction in the credit supply in the territory.

Against national champions

The Catalan employer also warns about the risks of the strategy of the ‘national champions’ for the proper functioning of the internal markets of the countries of the European Union and specifically in areas such as banking, insurance, transportation or telecommunications.

«At the national level we see few actors operating in those areas and benefiting from its dominant position While governments promote national champions instead of cross -border operators, whose face -to -face in national markets would improve competition, ”he regrets the Pimec note, in a criticism of a very well -known trend particularly in Spain after the state entry into Telefónica to promote A national communications and defense champion.

The employer of the Catalan SMEs warns that this trend has Special incidence on small and medium enterprises They use these services, since “the absence of competition reduces their options in the market and increases prices.”