Spain's Unicaja and Liberbank are holding informal talks about a potential tie-up to create the country's fifth-biggest lender with over 100 billion euros ($117.13 billion) in total assets, a source with knowledge of the matter said.
MADRID - Spain’s Unicaja and Liberbank are holding informal talks about a potential tie-up to create the country’s fifth-biggest lender with over 100 billion euros in total assets, a source with knowledge of the matter said.
“Informal talks between the two lenders are taking place,” the source said, adding that it was too early to say if that would lead to formal negotiations.A source with knowledge of the matter said that Unicaja has not hired any investment bank to look into this potential deal and that no due diligence process was underway.Earlier on Saturday, Bloomberg reported that Unicaja Banco was closer to a long-mooted takeover of Liberbank.
Unicaja and Liberbank would have a combined market value of around 1.7 billion euros, according to data from Refinitiv. European banks are under growing pressure to join forces to deal with rising bad debts and record-low interest rates as they battle the fallout from the COVID-19 pandemic.
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