BBVA

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…

In Europe 29th May 2025

Brussels warns it could take Spain to court if BBVA’s Sabadell takeover bid is blocked

Link Securities | The European Commission (EC) is prepared to take the Spanish government to the EU Court of Justice if it dares to block a major EU banking operation worth €15 billion, such as BBVA’s attempt to take over Banco Sabadell. “In that case, we would not hesitate to go to the Court,” Commission sources told this newspaper when asked what their response would be if the Minister for…

In Spain 28th May 2025

Sánchez, pressured by Puigdemont, will decide on BBVA’s Sabadell takeover bid within 30 days

The Minister of Economy, Trade, and Business, Carlos Cuerpo, has finally decided to elevate BBVA’s public takeover bid (OPA) for Banco Sabadell to the Council of Ministers for the integration to be examined for reasons of general interest other than competition. This is a move expected by the market. Now, a period of 30 calendar days begins for the Council of Ministers to issue its opinion on the OPA. The…

Spanish economy 27th April 2025

CNMC could approve BBVA’s Sabadell takeover bid on Monday

Link Securities | The National Markets and Competition Commission (CNMC) expects to approve next Monday, 28 April, its opinion on the takeover bid launched by BBVA for Banco Sabadell (SAB), according to sources close to the process, the Efe news agency reported. The work of the CNMC has been well advanced for weeks and now the result of the market test initiated at the beginning of the month to approve…

Relevant News Item 3rd April 2025

BBVA improves offer again: Sabadell offices and ATMs to be maintained for 36 months

Link Securities | Expansión highlights today that BBVA (BBVA) has improved the commitments for the merger with Banco Sabadell (SAB) that the Competition Authority (CNMC) recommended last week. Thus, BBVA has increased the period of maintenance of SAB’s branches and ATM access from 18 months to 36 months in sparsely populated areas with low incomes or little competition. The bank has also committed to maintaining the volume of credit to…

Relevant News Item 28th March 2025

Competition authority proposes new commitments to BBVA in Sabadell takeover bid

Link Securities | The Spanish National Commission on Markets and Competition (CNMC) board, which met last Monday, has asked BBVA to make new commitments in its takeover bid for Banco Sabadell, mainly in relation to the SME business and financial inclusion issues, according to Expansión newspaper. The CNMC has suggested that BBVA extend the deadlines for the proposed measures on the SME business. The regulator’s experts believe that an 18-month…

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