BRUSSELS (Reuters) - Spanish lender Banco Santander (MC:SAN) gained EU antitrust approval on Tuesday to acquire Banco Popular after regulators said the one-euro takeover would not hurt competition.
The European Central Bank and the Single Resolution Board organised the sale in June following a run on Banco Popular.
The European Commission, in charge of ensuring a level playing field in the 28-country European Union, said it did not have any competition concerns.
"The parties' combined market shares are generally limited (below 25 percent) and strong competitors will remain in all affected markets," the EU enforcer said in a statement.
In June, it said Banco Popular's resolution scheme was in line with the bloc's state aid rules.