Link Securities | BBVA (BBVA) has received authorisation from Mexico’s National Banking and Securities Commission (CNBV) to acquire indirect control of Banco Sabadell’s (SAB) banking subsidiary in the country, according to Expansión newspaper.
The bank now has all the required authorisations from Mexican regulators. This is the last regulatory authorisation BBVA needed in Mexico, as in December it received the go-ahead from the Federal Economic Competition Commission (Cofece). The competition authority decided to approve the takeover bid in the country because the operation would have little impact on the country. The analysis focuses exclusively on the indirect control of the stake of Sabadell’s banking subsidiary in Mexico.
