The Swiss company has committed to maintaining the activity of the market infrastructure on which the authorization and the continuity of the stock market rests as a financing mechanism for companies
The Council of Ministers has authorized the acquisition of 100% of the capital of Bolsas y Mercados Españoles, S.A. (BME) by SIX Group AG. The authorization has been made at the proposal of the Ministry of Economic Affairs and Digital Transformation, after a favorable report from the National Securities Market Commission (CNMV) and after carrying out a hearing process with the Comunidades Autonomas with competences in the matter
The company SIX Group AG submitted a letter last December requesting authorization for the purchase of the Spanish company BME, administrator of the regulated markets, the central counterparty entity and the central depository of securities in Spain, an act that must be authorized by government.
Once the information has been analyzed and the relevant reports have been received, the Government has authorized the operation, considering that the requirements established in the regulations are fulfilled, mainly the financial solvency of the acquirer and its suitability, reputation and experience.
However, and in addition, SIX has made a series of commitments in its request, which guarantee the maintenance of the activity of the affected market infrastructures and, consequently, the continuity of the Spanish stock market as a financing mechanism for our companies.
Finally, once the operation has been authorized by the Government, the acquisition proposal will be submitted to the criteria of the CNMV, as the competent authority in Spain to authorize the takeover bids (OPA). If the CNMV authorizes the takeover bid, it will be the shareholders of BME who will ultimately decide whether or not to sell their shares at the offered price.
