Spanish to approve extending restrictions on foreign takeovers, sources say

The Spanish government could approve as early as Tuesday a one-year extension on restrictions on foreign takeovers of Spanish companies deemed strategic, sources with knowledge of the matter told Reuters.

Since the pandemic, the acquisition of any stake higher than 10% in a company deemed strategic requires government approval, such as was the case with the takeover bid from Australian fund IFM for Naturgy.

One of the sources said that the extension would be approved on similar terms.

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