Spain’s stock market regulator the CNMV has issued a favorable recommendation for the Spanish government to approve a proposed takeover of Madrid stock exchange BME by Swiss exchange SIX, a CNMV spokesman said on Wednesday, March 18.
The government has the final say on the clearance of the friendly, all-cash €2.84 billion (US$3.03 billion) offer, and has until May 6 to issue its ruling, the spokesman said.
The Spanish government could still set some conditions on the deal, requiring SIX to make revisions to its offer, a source with knowledge of the matter had said earlier.
On Tuesday, a Spanish government source, speaking on condition of anonymity, had told Reuters after the market close the government expected the deal to go ahead soon.
Full Content: Reuters
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