Banco de Sabadell, S.A. (BNDSF)
- Reuters
BBVA vows to stand by Sabadell's small business customers
SANTANDER, Spain (Reuters) -Spain's BBVA sought on Monday to ease concerns about its 12.28 billion euro ($13.15 billion) bid for smaller rival Sabadell by saying it would continue Sabadell's lending arrangements with its small and medium-sized business clients for at least a year. The bid, which is opposed by the Spanish government, was rejected by Sabadell's board, prompting BBVA to launch a hostile offer directly to Sabadell's shareholders in its latest attempt at a deal, after a failed effort in 2020. Some of Sabadell's many small and medium-sized enterprise (SME) customers in its home region of Catalonia have expressed concern that BBVA might not continue to work with them in the event of a deal going through.
- Reuters
Exclusive-Sabadell pauses closing of Nexi deal following BBVA bid, sources say
Spain's Sabadell has postponed the completion of the sale of its retailers' payments business to Nexi after becoming the target of a hostile takeover by BBVA, two sources with knowledge of the matter said. "The plans are expected to continue as soon as the outcome of the takeover bid is clarified," the source said. Spokespeople for Sabadell and Nexi declined to comment.
- Reuters
Spanish stock market supervisor assesses BBVA's application for $13 billion Sabadell deal
MADRID (Reuters) -Spain's stock market supervisor said on Tuesday it has started assessing BBVA's 12.28 billion euro ($13.19 billion) hostile takeover bid for Sabadell, a potential tie-up that Madrid opposes. The National Securities Market Commission (CNMV) said it had admitted BBVA's application for authorising the deal, which is part of its regulatory process for approving deals. The deal also requires approval from the European Central Bank and Spanish antitrust watchdog CNMC.
