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Case No COMP/M.3422 - BBVA / BNL / JV

Only the English text is available and authentic.

REGULATION (EEC) No 4064/89 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 07/06/2004

Also available in the CELEX database Document No 304M3422

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 07/06/2004

SG-Greffe(2004) D/202282

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying parties

Dear Sirs,

Subject: Case No. COMP/M. 3422 BBVA/BNL/JV Notification of 3 may 2004 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89, as last amended by Regulation (EC) No 1310/97 Publication in the Official Journal of the European Union No. C 137 of 15.5.2004 page 2

1.On 3.5.2004, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 as last amended by Regulation (EC) No 1310/97, by which the undertakings Banco Bilbao Vizcaya Argentaria S.A. (ìBBVAî, Spain) and Banca Nazionale del Lavoro S.p.A. (ìBNLî, Italy) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of newly created company constituting a joint venture (JV) by way of purchase of shares.

1OJ L 395, 30.12.1989 p. 1; corrigendum: OJ L 257, 21.9.1990, p. 13.

2OJ L 180, 9. 7. 1997, p. 1; corrigendum OJ L 40, 13.2.1998, p. 17.

3OJ L 180, 9. 7. 1997, p. 1; corrigendum OJ L 40, 13.2.1998, p. 17.

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

The business activities of the undertakings concerned are :

-- for BBVA : retail banking, wholesale banking and other banking services in Europe and Latin America

-- for BNL : banking and investments, e-banking services, factoring, leasing, asset management, trust services, consumer financing, insurance, telecommunications services and infrastructure, publishing and publicity

-- for Joint Venture: consumer financing in Italy

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4 (c) of the Commission Notice on a simplified procedure for treatment of

certain concentrations under Council Regulation (EEC) No 4064/894.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

(signed) Mario MONTI Member of the Commission

4OJ C 217, 29.07.2000, p. 32.

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