A PYMNTS Company

Spain Clears SIX’s Takeover Bid For BME

By  |  March 26, 2020

Spain’s market regulator CNMV stated on Thursday March 26, that it had authorized a bid by Swiss exchange SIX to buy Madrid stock market operator BME, leaving a 5-day window for potential rivals to file a counter bid. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The move comes after the Spanish government cleared the takeover on Tuesday. CNMV had recommended last week that the government approve the bid, reported Reuters.  

    BME shareholders will have the final say on the deal. The operation will also need antitrust clearance from the European Commission. 

    The CNMV approval gives other would-be buyers five days to file a counter bid. Paris-based Euronext has expressed interest in buying BME but hasn’t submitted a formal bid. The takeover is being closely watched by an industry concerned about technological changes such as blockchain that could disrupt the business model of charging fees per transaction by dramatically cutting costs.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.