Spain's Liberbank, Unicaja confirm deal talks, lifting shares
Spain`s Unicaja and Liberbank confirmed on Wednesday they had held talks about a potential deal, driving shares in both banks higher on expectations of a tie-up.
Spanish newspaper Expansion earlier reported that the banks were considering a merger to create Spain`s sixth-largest lender by assets, with almost 96 billion euros ($109 billion).
The banks confirmed in separate statements to the Spanish market regulator that they had been in contact as part of their regular analysis of potential transactions.
Unicaja said no decision had been taken, while Liberbank said no specific proposal had been submitted to its management.
Shares in both banks gained around 15 percent by 1530 GMT.
Mediobanca is advising Unicaja and Deutsche Bank is working with Liberbank, a source familiar with the matter said.
Both Mediobanca and Deutsche Bank declined to comment on the Expansion report.
($1 = 0.8835 euros)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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