1215 GMT - BBVA's takeover proposal for peer Banco de Sabadell is a growth operation that bets on value creation for all stakeholders, BBVA's Peio Belausteguigoitia says. Stakeholders include customers, employees, shareholders and society as a whole, Belausteguigoitia says at the IESE Banking conference in Madrid. The Spanish bank launched a hostile bid for its smaller rival 13 months ago. The deal has got the necessary authorizations. These include the nod from the competition regulator, which approved the remedies put forward by BBVA to address its concerns. The bid is now being reviewed by the government before being put to shareholders. "We hope that Banco Sabadell shareholders can soon decide if they want to join this great joint project," the bank's country manager for Spain says. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
June 03, 2025 08:17 ET (12:17 GMT)
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