Portugal: EC approves CaixaBank takeover of BPI

Page created: Thursday, 9 June 2016 14:25 GMT

Bank  BPI   Caixabank

Brussels, Jun. 9 (Lusa) – The European Commission has approved the proposed takeover of Portuguese bank BPI by the Spanish CaixaBank, under the scope of merger regulations, it said on Thursday.

The approval came after the Commission concluded that the proposed acquisition “did not raise any problems of anti-trust because the combined market shares of the two companies were very small”.

The Commission had already approved a deal between these two banks in 2015, but the process was not finalised because CaixaBank withdrew its takeover offer.