1130 GMT - The road ahead for BBVA's takeover of smaller peer Banco Sabadell is still a long one, Jefferies says in a research note after Spain's competition authority greenlit the deal. The outcome of the takeover battle--which has dragged on for a year--will depend on whether Sabadell shareholders tender their shares, which could be known in August, analysts write. "If successful, the pending question is whether the government will approve the legal merger of the two entities--but that's one for early 2026 most likely," they note. BBVA shares fall 2.3% while Sabadell's are down 2.0%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 07:30 ET (11:30 GMT)
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