precediesen
-they/you preceded
Imperfect subjunctive ellos/ellas/ustedes conjugation of preceder.

preceder

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Lo ideal sería que la reestructuración competitiva, la introducción de la regulación y la creación de un organismo regulador independiente precediesen las medidas de apertura.
Ideally, competitive restructuring, the introduction of regulation and the establishment of an independent regulatory agency should precede steps towards opening up.
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