Spain: Companies in Catalonia Begin Weighing the Economic Pros and Cons
MIN READOct 5, 2017 | 16:25 GMT
Financial markets and companies are starting to worry about the economic consequences that would come if Catalonia declares independence. On Oct. 4, the shares of two Catalonia-headquartered banks, CaixaBank and Banco Sabadell, fell by more than 5 percent. The following day, Banco Sabadell's board of directors met to discuss the possibility of moving its legal seat out of Catalonia. In the meantime, drug company Oryzon announced on Oct. 4 a decision to relocate away from Catalonia, while telecommunications company Eurona announced on Oct. 5 that it, too, will move its headquarters from Barcelona to Madrid. (The company said the decision was made a year ago.) Several other businesses throughout Spain have said that they are also following events in the region closely and are considering various options for how to respond....