Overview

• The Comisión Nacional de los Mercados y la Competencia (CNMC) is expected to issue its ruling on BBVA's €75 billion takeover bid for Banc Sabadell between Monday and Wednesday.
• The bid, already approved by the European Central Bank and European Commission, faces significant resistance due to fears of reduced banking competition and SME financing cuts.
• Business groups, including Catalonia's Foment del Treball, warn the merger could lead to a €75 billion reduction in SME credit and have opposed the deal during regulatory consultations.
• The CNMV and Ministry of Economy will assess the bid next if the CNMC approves it, with the Spanish government potentially acting as the final arbiter in the contentious process.
• Catalonia remains concerned about losing financial sovereignty, as Sabadell's relocation of its headquarters during the Catalan procés remains a sensitive regional issue.