Analysis-BBVA's Sabadell bid mired in concerns over competition and Mexico [Yahoo! Finance]
BANKINTER SA S/ADR (BKNIY)
NASDAQ:AMEX Investor Relations:
webcorporativa.bankinter.com/www2/corporativa/en/inf_financiera_cnmv/informacion_financiera/resultados/2011
Company Research
Source: Yahoo! Finance
review of its bid, which fell further in value after Donald Trump's U.S. election victory fuelled concerns over its Mexican business. Spain's CNMC on Tuesday announced a "phase 2" process that gives the competition authority at least three more months to assess the hostile bid by the second-largest Spanish bank. While expected by many analysts given intense political scrutiny and government opposition to a deal, the CNMC's decision marks a blow for BBVA, which had wanted the regulator to approve its offer with minimum remedies and free the bank to proceed to the next stage of its takeover proposal. Instead, a longer CNMC examination heightens concerns about the regulator demanding bigger remedies, raising uncertainty for the BBVA at the same time as analysts and economists say potential protectionist measures under Trump could hit the bank given it earns more than half its profit in Mexico. Sabadell says a merger would negatively impact competition for lending to small and med
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