Unicaja and Liberbank break negotiations to merge


Unicaja Bank and Liberbank have broken the negotiations for its merger after more than five months of talks, with which they desist from creating the sixth largest bank in Spain, with an asset volume close to 96,000 million.

As reported by Liberbank to the National Securities Market Commission (CNMV), its board of directors has unanimously decided to terminate the negotiation with Unicaja Banco by not reaching an agreement on the shareholding in the new entity.

From the start, based on the volume of assets, it was assumed that Unicaja Banco would obtain a 60% stake and Liberbank the remaining 40%, but sources close to the operation qualified Efe that the Andalusian group would probably remain among the 55 and 57%, with which Liberbank would increase to 43 or 45%. However, the tug-of-war between both entities over their participation in the future group has not ended well and Liberbank has preferred to close the negotiations.

. (tagsToTranslate) larazon.es


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