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Spain's Unicaja, Liberbank to approve merger at Tuesday board meetings, source says

MADRID, Dec 28 (Reuters) - Spanish lenders Unicaja and Liberbank are expected to hold respective board meetings on Tuesday to approve the terms of their proposed merger to create the fifth-biggest domestic bank with almost 109 billion euros ($129.5 billion) in assets, one source with knowledge of the matter said on Monday.

“Extraordinary board meetings are expected to sign off on the deal on Tuesday after both lenders agreed in principle on the financial terms and the future management of the combined group,” the source said.

A second source aware of the talks said that the plan was to sign off on the deal before the end of the year and that negotiations were at an advanced stage, although board meetings had not been officially called yet.

The two banks declined to comment. (Reporting by Jesús Aguado, editing by Andrei Khalip)

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