CaixaBank and Bankia soar on the stock market after announcing that they are studying their next merger

• Banca.CaixaBank and Bankia prepare an imminent merger

• Opinion Big Questions

The shares of

have skyrocketed as soon as the trading session began on the Ibex 35 after both entities confirmed late last night that they are in negotiations to carry out a merger that would result in the largest bank in Spain.

Investors had been warning before the market opened, with the pre-opening launched, and the start of the day on the market has confirmed their interest.

CaixaBank shares rise 11% in these first few minutes of trading, while those of Bankia gain more than 30%.

The news was confirmed at the edge of midnight on Thursday, when both companies issued separate statements to the

(CNMV) informing of the negotiations they are holding to unite their businesses.

"Given its preliminary nature, it is stated that a proposal to initiate a study and analysis has been submitted to Bankia's governing bodies that allows the Board of Directors to adopt the corresponding well-founded decision, counting on the relevant advisers," it states the note of the Madrid entity.

The Catalan, for its part, detailed that they are in the process of exchanging information "to assess the operation, within a

, with advisers for the operation."

Bankia's capitalization is around 3,178 million euros, while that of CaixaBank is around 10,860 million.

If the operation is completed, the union would give rise to a group with

, some 6,600 branches (4,400 the entity of Catalan origin and more than 2,200 the nationalized entity) and a joint workforce of more than 51,000 employees ( almost 35,600 CaixaBank and some 16,000 Bankia), which would lead to significant synergies.

According to the plans advanced by

, La Caixa Foundation would control 30% of the group resulting from the merger, while the Fund for Orderly Bank Restructuring (FROB), would reduce its weight from almost 62% today to 14%.

The union also seems to have the approval of the Government, which also spoke last night through the

.

The department led by Nadia Calviño published a statement in which it acknowledges that, with regard to the merger of CaixaBank and Bankia and in the event that the negotiations conclude in a proposed merger agreement, "the FROB will analyze them fully objectivity from the perspective of generating value and optimizing its ability to recover aid ".

According to the criteria of The Trust Project

Know more

• economy

• Business

• Bankia

EconomyCaixaBank and Bankia prepare an imminent merger accelerated by the coronavirus crisis

CrisisThe recovery of companies after the state of alarm: more trade, fewer bars and real estate

EconomyThe closure of companies accelerates: for one that is born, another lowers the blind

See links of interest

• Last News

• Programming

• English translator

• Work calendar

• Daily horoscope

• Santander League Standings

• League schedule

• Movies TV

• 2019 cut notes

• Topics

• Stage 6: Le Teil - Mont Aigoual

• Germany - Spain, live