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Italy's Mediolanum moves legal base of Spanish arm to Valencia from Barcelona
October 6, 2017 / 1:18 PM / 2 months ago

Italy's Mediolanum moves legal base of Spanish arm to Valencia from Barcelona

MILAN, Oct 6 (Reuters) - Italian asset manager Banca Mediolanum said on Friday it had decided to move the legal base of its Spanish unit to Valencia from Barcelona, as Catalonia seeks to break away from the rest of the country.

“The unit took this decision ... in order to remain under the supervision of the European Central Bank,” Banca Mediolanum said in a note, adding its Spanish operations would remain in Barcelona.

Catalonia’s parliament was planning to declare independence on Monday, after a banned referendum marred by violence last weekend. That plan was cast into doubt on Thursday when Spain’s Constitutional Court ordered that Monday’s session of the Catalan parliament be suspended. (Reporting by Valentina Za; Editing by Isla Binnie)

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