Link Securities | The National Markets and Competition Commission (CNMC) published on Wednesday the arguments that led it to agree a week ago to extend a few more months the evaluation of the hostile takeover bid launched by BBVA on Banco Sabadell (SAB), as reported by the newspaper Expansión on Thursday.
The CNMC says it sees a risk that the takeover bid could reduce banking competition in Catalonia and Valencia and credit in the SME segment, as it considers that the commitments presented by BBVA do not resolve the possible problems of dominant position generated by the operation. In addition, the CNMC says that there is a real danger that BBVA will worsen conditions for SAB’s customers.
