Spain's Markets Watchdog Green Lights BBVA's Sabadell Takeover Bid
By Elena Vardon
Spain's market regulator has given the green light for lender BBVA to take over smaller peer Banco de Sabadell.
Banco Bilbao Vizcaya Argentaria--as the bank is formally known--went hostile in its pursuit of Sabadell last May in view of creating one of the biggest lenders in the eurozone after it encountered opposition from the management of the smaller rival.
The regulator, known as CNMV, on Friday said it is giving its authorization with the understanding that the offer's terms comply with applicable regulations and the prospectus's contents are sufficient following amendments that were made.
The deal has already received the green light from the European Central Bank and Spain's competition regulator after BBVA put forward remedies to address antitrust concerns, but is still pending approval from Sabadell's shareholders.
The CNMV said it will announce the acceptance period once BBVA publishes the necessary documentation. The bank previously said the take-up period could start at the beginning of September.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
September 05, 2025 05:03 ET (09:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States