The Senate's approval of the ruling on a law designed to simplify the information and documentation requirements for corporate mergers and split-offs marks the end of an antiprotectionist law imposed by the socialist party government in 2010.
The law will bring back limits on voting rights and create mechanisms to enable shareholders in public companies that have suffered significant losses to receive a reasonable price for their shares in the event of a takeover.
In addition to protecting energy companies such as Repsol or Iberdrola, the law also defends the interests of small investors, which in many cases are overlooked.
In changing the law Spain follows similar norms applied by Germany, France, the United Kingdom and Italy.
