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4d ago

BBVA Takeover of Banco Sabadell Reaches Final Government Review

The Spanish government now has 45 days to authorize, condition, or veto the BBVA's hostile bid following CNMC approval with competition safeguards.

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Entrevista a Jordi Turull, secretario general de Junts, en la redacción de El Periódico
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Overview

  • The CNMC approved BBVA's takeover of Banco Sabadell with conditions, including maintaining 50% of SME credit in Catalonia and the Balearic Islands.
  • The Ministry of Economy has 15 days to decide whether to refer the case to the Council of Ministers, which will have 30 days to issue a final decision.
  • Junts per Catalunya opposes the merger, citing risks to Catalan competition and SME financing, and is pressuring the government to block it.
  • Minority shareholders and Catalan competition authorities argue the commitments are insufficient to protect competition and regional economic interests.
  • BBVA claims its commitments adequately address SME credit concerns, while Banco Sabadell continues to challenge the CNMC's methodology.