Valero was sent off with a straight red card for violent conduct in the 76th minute of the side´s 3-0 second leg victory over OB Odense in the play-offs last month.
The 26-year-old playmaker sat out their opening Group A match against Bayern Munich and will also miss next week´s trip to play Napoli, but will be free to return away at Manchester City in October.
The third match of Valero´s ban will now only be applied if he is sent off again during a two-year probationary period.
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