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BBVA Acquisition of Sabadell Faces Government Conditions
Madrid,Spain – The Spanish government announced Tuesday a series of stipulations for Banco Bilbao Vizcaya Argentaria (BBVA) shoudl its planned takeover of Banco Sabadell receive approval from the National Securities Market Commission (CNMV) and gain the support of Sabadell shareholders. The conditions primarily center around safeguarding employment levels and ensuring continued banking access in underserved regions.
Deal Overview and Government Scrutiny
BBVA’s pursuit of Sabadell, first proposed in May 2024, aims to create Spain’s second-largest domestic lender, possibly rivaling Santander. The government’s intervention underscores the strategic importance of the banking sector and the need to mitigate potential negative consequences from consolidation.The CNMV is currently reviewing the proposed merger to ensure compliance with market regulations and shareholder rights.
Did You know? spain’s banking sector has undergone meaningful consolidation in recent years, with mergers and acquisitions reshaping the competitive landscape. According to the Bank of Spain, the number of credit institutions has decreased by over 30% as 2010. Bank of Spain
