The deadlines for the merger of Bankia and BMN will be accelerated once it has been confirmed there is no interest on the part of other investors. The tie-up is expected to be completed after the summer and will be the starting gun for the next round of sector consolidation.
By Juan Pedro Marin Arrese, in Madrid | Big banks in Spain have entered the merger race purchasing former nationalised entities. This sudden shift from previous reluctance to get involved in rescue deals is seen by many observers as a move to fence off pressures to salvage Bankia. According to this view, there would be great concern in financial circles over an institution that seems too big both to fail and…
By Carlos Díaz Guell, in Madrid | The second stage of Spain’s financial reform is going through a foggy tunnel in which stable entities have been left in a state of perplexity and confusion. The entities that aspire to be absorbed are too weak even to attract deals, the governor of the Bank of Spain is about to end his mandate and does not have the government’s trust, and the road…