The president of Mutua Madrileña, Ignacio Garralda, has resigned by surprise as an independent director of the holding Bolsas y Mercados Españoles (BME) due to his opposition to the takeover by the Swiss group Six after the takeover bid and the extraordinary bonus that the buyer intends to pay to the CEO, Javier Hernani. Juan March and Santos Martínez-Conde, representatives of Corporación Alba, have also resigned after selling their stake, although the rest of the current council will have to leave, except David Jiménez Blanco.
This Thursday BME has held the first council after the success of the takeover of Six, which has been made with 93% of the capital. According to sources familiar with the situation, Garralda -son and grandson of agents of the old Stock Exchange- has shown his opposition to the operation, which he considers a success for the Swiss group but not for Spain, which loses its capital market.
Garralda has criticized that the Government has consented to this operation, which transfers to Switzerland the decision-making power over something so sensitive to the country's economy. In his opinion, ways of collaboration or Six's entry as a minority partner could have been sought, without the need to hand over control, always according to these sources.