Unicaja denies any merger with Banco Sabadell on the table


Alphavalue / Divacons| Unicaja shares rose 3.46% yesterday following news that Banco Sabadell was interested in a merger. According to El Confidencial, Josep Oliu, chairman of the Catalan bank, has held talks at the highest level with the Bank of Spain about a possible merger, with plans to locate the merged entity’s headquarters in Malaga, where Unicaja has its headquarters. According to the news story, Unicaja’s main shareholder, the Unicaja Foundation, would remain the largest shareholder of the new entity. Unicaja denied the news in a statement: “Unicaja has not had any contact and there is no corporate operation on the table. The company’s objective is to improve its structural profitability, as well as the quality of services to customers, issues that are at the centre of our focus”. Yesterday Banco Sabadell shares rose 2.74%.

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