Spanish lenders Bankia and Caixabank will hold board meetings on Thursday to approve the terms of a proposed merger that will create Spain's biggest domestic bank with around 600 billion euros($711.96 billion) in assets, La Vanguardia newspaper said on Wednesday.
Caixabank declined to comment. Bankia was not immediately available for comment. A source had told Reuters earlier that the main shareholders had given their blessing to a deal and that the boards would meet "very shortly", possibly as early as Thursday.
(Reporting by Jesús Aguado; Editing by Ingrid Melander)
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