Spain: Liberbank and Unicaja call off merger talks

Spain’s Liberbank and Unicaja called off merger talks on Tuesday after the former savings banks said they could not reach a deal over the terms of a share swap, reported Reuters.

A tie-up between Unicaja and Liberbank would have created Spain’s sixth-biggest bank with 97 billion euros ($108 billion) in assets and last week, the deputy governor of the Bank of Spain Margarita Delgado said mergers were a clear way to improve profitability and efficiency in the sector.

“The parties have not reached a agreement on the possible share swap, so the board of Unicaja Banco unanimously decided to end the negotiations,” Unicaja Banco said in a similar statement to one issued by Liberbank.

Full Content: Reuters

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