Sabadell CEO Says BBVA Deal Is 'Shaky' -- Market Talk

Dow Jones
2025/03/20

1644 GMT - BBVA's hostile takeover bid for smaller peer Sabadell looks like a "shaky" transaction due to the strong negative social reaction in Spain and potential no-merger scenario the suitor is considering, Sabadell's CEO says at a London conference. If a merger doesn't go through, BBVA is envisaging a scenario under which the two separate banks operate under one entity. This structure would make it impossible to achieve the targeted synergies, Sabadell's CEO Cesar Gonzalez Bueno says. The competition authority CNMC, which is currently undertaking a phase 2 review, probably won't take any hard stance on the deal given their methodology, which is based on solving competition issues with behavioral elements, as opposed to structural ones, he adds. (elena.vardon@wsj.com)

 

(END) Dow Jones Newswires

March 19, 2025 12:44 ET (16:44 GMT)

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