Tag #Bbva

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cincodias.elpais.com

🌐 75% Global Worthiness

Dec 20, 13:12

Madrid Nuevo Norte Land Transfer Finalized After 30-Year Delay

After over 30 years of delays, Adif transferred land for the Madrid Nuevo Norte project to Crea MNN (controlled by BBVA, Merlin, and San José) for €1.245 billion, with an initial €210 million payment, concluding a major urban regeneration project in northern Madrid.

Madrid Nuevo Norte Land Transfer Finalized After 30-Year Delay

After over 30 years of delays, Adif transferred land for the Madrid Nuevo Norte project to Crea MNN (controlled by BBVA, Merlin, and San José) for €1.245 billion, with an initial €210 million payment, concluding a major urban regeneration project in northern Madrid.

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Sustainable Cities and Communities

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What is the immediate impact of the land transfer for the Madrid Nuevo Norte project?

After more than 30 years, Adif, the Spanish railway administrator, has transferred land for the Madrid Nuevo Norte project to Crea Madrid Nuevo Norte (Crea MNN) for €1.245 billion payable over 20 years. Crea MNN, a company controlled by BBVA, Merlin, and San José, made an initial payment of €210 million upon signing. This represents approximately 50% of the project's land.

elpais.com

🌐 75% Global Worthiness

Dec 15, 16:12

Death of Telefónica Vice Chairman José Javier Echenique

José Javier Echenique, former BBVA director-general and Telefónica vice chairman, died at 74 on December 30th, 2023, from a massive stroke after attending a funeral and lunch with business associates on Thursday and Friday.

Death of Telefónica Vice Chairman José Javier Echenique

José Javier Echenique, former BBVA director-general and Telefónica vice chairman, died at 74 on December 30th, 2023, from a massive stroke after attending a funeral and lunch with business associates on Thursday and Friday.

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Decent Work and Economic Growth

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What is the significance of José Javier Echenique's death for the Spanish business world?

José Javier Echenique, a prominent figure in Spanish business, passed away at 74 due to a massive stroke. His death follows the recent passing of another influential businessman, highlighting a period of significant loss for the Spanish corporate world.

elmundo.es

🌐 75% Global Worthiness

Dec 19, 19:12

CNMC Approves Only Sabadell's Participation in BBVA Takeover Review

The Spanish competition authority (CNMC) approved only Banco Sabadell's participation in its review of BBVA's takeover bid, rejecting 78 other applications and delaying the decision until potentially the first quarter of 2025. This decision emphasizes the strict standards for merger reviews, focusin...

CNMC Approves Only Sabadell's Participation in BBVA Takeover Review

The Spanish competition authority (CNMC) approved only Banco Sabadell's participation in its review of BBVA's takeover bid, rejecting 78 other applications and delaying the decision until potentially the first quarter of 2025. This decision emphasizes the strict standards for merger reviews, focusin...

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Why did the CNMC reject the majority of third-party requests to participate in the review process?

The CNMC's decision highlights the stringent standards for participation in merger reviews. Only parties demonstrating a legitimate interest directly related to competition concerns are permitted, which explains the rejection of 78 other applications, including those from influential business associations. The CNMC's move to a second phase investigation further delays the process.

cincodias.elpais.com

🌐 75% Global Worthiness

Dec 4, 10:07

BBVA Seeks CNMC Approval for Sabadell Takeover, Enhancing Remedies to Address Competition Concerns

BBVA is attempting to secure approval from Spain's CNMC for its hostile takeover of Banco Sabadell by enhancing its proposed remedies addressing competition concerns, especially regarding SMEs, after the initial proposal was deemed insufficient in the first phase of the review process.

BBVA Seeks CNMC Approval for Sabadell Takeover, Enhancing Remedies to Address Competition Concerns

BBVA is attempting to secure approval from Spain's CNMC for its hostile takeover of Banco Sabadell by enhancing its proposed remedies addressing competition concerns, especially regarding SMEs, after the initial proposal was deemed insufficient in the first phase of the review process.

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How does the political opposition to the merger influence the CNMC's review process and the likelihood of approval?

BBVA's initial remedies proposal, mirroring but strengthening the CaixaBank/Bankia merger remedies, focused on five areas: retail banking conditions, financial exclusion, SME credit, ATM access, and payment markets. The CNMC raised concerns regarding the proposed remedies, particularly for SME pricing and credit, highlighting the need for further commitments from BBVA. The CNMC is conducting market tests to fully assess the impact of BBVA's proposed solutions.

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