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2 400 Companies have Left Catalonia

Novinite.com - Tuesday 14th November, 2017

2 400 companies have left the Spanish region of Catalonia since the independence referendum to date, Bloomberg reports, citing data from the local company register.

The consultation was held on 1 October this year and as early as the same week, 219 companies have filed an application to change their address because of the uncertainty the political move has brought. The companies have decided to move to other parts of Spain under the threat of separation of the area, which automatically means going out of the European Union. The largest companies that left are the largest bank in Catalonia - CaixaBank SA, which moved to Valencia, as well as Banco Sabadell, Abertis, Colonial, Gas Natural and Cellnex - all of them part of the IBEX-35 index.

As early as the sixth of October, the government in Madrid presented an urgent change that allowed companies to swiftly change their headquarters. Since its entry into force, another 413 companies have left. Most companies - 332 - left on October 10 and 11, coinciding with Puigdemont's claim that he has a mandate to declare independence. Others, 268, left on October 19 when Spain said it suspended the local government.

Copyright (c) Novinite.com. Published with permission via Big News Network news agency

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