Caixanova Merger

According to a report from Price Waterhouse Coopers, the Spanish financial sector will need between 25,000 and 70,000 euros to recapitalize million, due to the crisis. The parameters taken into account in this study (unemployment of 20%, contraction of GDP of 3.5 per cent) are quite similar to the last forecast for the Spanish economy made public by the Minister Elena Salgado days ago although the dance of mergers has not yet started, the movements in the sector are constant. There are various movements aimed at possible mergers or search for synergies in Castilla-Leon (explained in a simple manner would benefits gained by labour in common), Andalusia is also spoken in any possible merger or absorption, in Catalonia is parsed from long ago possible mergers between Caixa Catalunya and other medium-sized or small boxes in Galicia also has ever spoken of the possibility between Caixa Galicia and Caixanova, who have distributed quite equally the geographic market in the community, with the which Yes could obtain interesting synergies one of the problems that have boxes is the intense politicization which suffer approximately a third of the 6,000 boxes counselors are appointed by political parties - in a way that is difficult that a merger involving boxes belonging to different autonomous communities, as he lived in the case of the foiled operation between the Andalusian Unicaja and Caja Castilla La Mancha, while in both communities ruled the PSOE. Another issue, not least in my opinion, is that these alleged synergies that could be obtained are not the panacea that everything arranged it. If the merger is between boxes of the same autonomous community, it is possible that they already compete for the same customers, and if in addition, one of the two boxes that are involved in the operation or the two - already have liquidity or solvency problems, the merger won't them to solve.