The BBVA has decided that it will maintain the OPA on the Sabadell Bank despite the conditions imposed by the Government of Spain and the possible synergies. The entity chaired by Carlos Torres now expects that at the beginning of September, the National Securities Market Commission (CNMV) approves the operation and finally this movement, one of the most ambitious in the bank market of recent years, is a reality.
After the last two of shareholders, the BBVA is more reinforced And he has reported in a statement he has accessed Europa Press that “once the agreements adopted and considering the available information, BBVA has decided not to give up the offer for this cause and therefore remains in force in accordance with the provisions of the applicable regulations.”
Now, while they expect the CNMV to give the project green to the project, the bank expects to update the relevant information, creating value, as said Onur Genç, who is CEO of BBVA. “Our focus is the creation of value, we invest capital only if it makes sense from this point of view.”
And what seems to be clear is that the OPA on Sabadell meets all these conditions. It has been this month when shareholders have supported this operation with more intensity, especially when the sale of TSB was recent. And, with the law that governs the opas on the table, at the time this operation was performed, the BBVA could withdraw.