BBVA

Companies, Relevant News Item 1st August 2025

BBVA opens door to withdrawing takeover bid for Sabadell after Catalan bank’s board meeting to approve TSB sale to Santander

Link Securities | BBVA (BBVA) has opened the door to withdrawing its hostile takeover bid for Banco Sabadell (SAB) following the extraordinary shareholders’ meetings to be held by the Catalan bank on 6 August to approve the sale of TSB to Santander (SAN) and the subsequent distribution of an extraordinary dividend of €2.5 billion, according to the newspaper Expnasión. ‘There are no guarantees,’ said BBVA CEO Onur Genç in response…

Companies, Ibex 22nd July 2025

BBVA delays presentation of takeover bid for Banco Sabadell until September

Renta 4 | BBVA (BBVA) has confirmed that the acceptance period will begin in early September. The aim is for the prospectus to include both the results for the first half of 2025 and those of the Extraordinary General Shareholders’ Meeting of Banco Sabadell (SAB), where the sale of TSB and the distribution of the extraordinary dividend of €0.5 per share will be submitted for approval. Assessment: This decision avoids…

Companies, Relevant News Item 21st July 2025

Extraordinary dividend of €2.5 billion Sabadell wants to approve could give BBVA option to raise price of offer by same amount

Link Securities | BBVA executives have the option of modifying the terms of their bid to take control of Banco Sabadell, particularly the exchange ratio, which most analysts consider essential to make the offer attractive to the Catalan bank’s shareholders, given the current share price gap in Sabadell’s favour, according to today’s Expansión. The extraordinary dividend of €2.5 billion that Sabadell’s Board of Directors wants the bank’s Shareholders’ Meeting to…

Companies, In Europe 18th July 2025

EC opens infringement proceedings against Spain over conditions imposed by government on BBVA Sabadell takeover bid

Alphavalue/DIVACONS | The European Commission announced on Thursday that it was opening infringement proceedings against Spain over the conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB). Brussels specifically objects to the discretionary powers granted to the government by Spanish law to block such transactions. The EU executive considers that the scope of these powers exceeds the scope of the general interest. BBVA: Buy, Target Price…

In Spain 10th July 2025

EC finalising infringement proceedings against Spain for additional conditions imposed by government on BBVA’s Sabadell takeover bid

Link Securities | The European Commission (EC) is finalising the opening of infringement proceedings against Spain for the additional conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB), as it considers that the government has overstepped its powers and that its actions are contrary to the free movement of capital. and will therefore take measures before the summer break that could eventually escalate to a complaint…

Spanish economy 1st July 2025

BBVA Maintains Hostile Takeover Bid for Sabadell, Which Must Decide on TSB Sale

Carlos Torres’s BBVA has announced that it is pressing ahead, come hell or high water, with its hostile takeover bid for Banco Sabadell. The bank sent a note to the National Securities Market Commission (CNMV) reiterating its firm intention to acquire the Barcelona-based bank, despite the latter’s board of directors meeting this Tuesday to analyze an offer from Banco Santander to acquire its British subsidiary, TSB, for just under €2.7…

In Spain 25th June 2025

Government Blocks BBVA-Sabadell Merger for Three Years and Prohibits Operation-Related Layoffs

The Council of Ministers has made the operation contingent on BBVA maintaining Sabadell as an independent entity for three years, extendable by two, which effectively prevents the merger BBVA sought. The group chaired by Carlos Torres will be able to change Sabadell’s board of directors, but cannot implement joint staff adjustments or branch network changes associated with the operation. Each entity will have to preserve its legal personality, separate assets,…

Spanish economy 20th June 2025

If Banco Sabadell sells TSB for around €2 billion, BBVA could cut takeover bid by up to 15%

Link Securities | BBVA could reduce its takeover bid for Banco Sabadell by up to 15% (between €1.6 billion and €2.3 billion, according to sources consulted) if the Catalan bank sells TSB for around €2 billion, according to today’s edition of the newspaper Expansión. The newspaper notes that the market believes that the sale of TSB is Sabadell’s last chance to halt the takeover bid, as it is taken for…

Spanish economy 10th June 2025

“Sabadell is not a fundamental and irreplaceable operator” concludes CNMC in analysis of BBVA’s takeover bid

Link Securities | The National Markets and Competition Commission (CNMC) concluded in its April report on BBVA’s (BBVA) takeover bid that Banco Sabadell (SAB) “is not a fundamental and irreplaceable operator” in the world of SMEs, and that it is losing market share in this business, according to Expansión and the Efe news agency on Friday. For more than eleven months, the CNMC analysed the impact that the acquisition of…

In Spain 6th June 2025

Pedro Sánchez, “between a rock and a hard place” in BBVA’s takeover bid for Banco Sabadell

Alphavalue/DIVACONS | “An unwanted headache for Prime Minister Pedro Sánchez”. This is how Bloomberg describes the government’s attempts to stop BBVA’s takeover bid for Banco Sabadell. According to the US media outlet, opposing the takeover “seemed like an obvious decision” when it was announced a year ago. However, Bloomberg quotes sources close to Sánchez as saying that the president “is caught between a rock and a hard place, looking for…

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