• CaixaBank-Bankia, guide for 20 million customers

The Fund for Orderly Bank Restructuring (Frob) has definitively blessed the absorption of Bankia by CaixaBank by concluding that it will facilitate the recovery of part of the billions of public euros allocated to the rescue of the entity in 2012.

The public entity has issued a report this Friday in which it explains that it has carried out an in-depth analysis of the merger process published by both banks on September 17, for which it has had the work of different experts and the favorable recommendation from the investment bank Nomura.

His conclusion is that "the merger would improve the value of the indirect stake in Bankia and would have a positive effect on the prospects for recovery of aid in future divestments".

The Frob has also agreed to propose the appointment of

Teresa Santero Quintilla

as director of the new entity in representation of the 16% stake that the State will maintain in the shareholding.

Santero has a doctorate in Economics from the University of Illinois at Chicago and currently works as a professor at the Universidad Instituto de Empresa and an independent advisor to the ICO.

Same place and two days apart

The same scenario two days apart.

The boards of directors of Bankia and CaixaBank have given their final approval to the merger of both entities and it only remains for it to be endorsed by the shareholders of both banks.

It will be during the next 1 (Bankia) and 3 (CaixaBank) of December at the Palacio de Congresos de Valencia, a city in which both groups have their headquarters and which will be a neutral zone in the operation that combines Madrid and Catalan interests.

Both groups have communicated to the CNMV the 'green' approval of the boards of directors and convened two meetings of shareholders, in which they will prioritize telematic assistance due to the pandemic situation in which the country is plunged.

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