concerns Arise Over Consultation Process

A public consultation launched by the Spanish government regarding Banco Bilbao Vizcaya Argentaria’s (BBVA) bid for Banco Sabadell is under scrutiny due to potential vulnerabilities in its design. The consultation, conducted via a Microsoft form, has raised concerns about the possibility of multiple submissions from the same user and the use of fictional data.

Specifically, it has been demonstrated that the form allows for the input of incorrect data, such as non-existent national identification numbers (DNI), and permits repeated submissions from the same individual.

context: The Opposed Takeover Bid

BBVA’s €11 billion hostile bid for sabadell has been a contentious issue. The European central Bank (ECB) has already approved BBVA’s offer [[2]]. The country’s competition watchdog also approved BBVA’s €11 billion hostile bid for rival lender Sabadell [[1]], paving the way for the government to have the final say on the drawn-out takeover.

Following authorization from the National Commission of Markets and competition (CNMC), the government has a 15-day window to decide whether to elevate the matter to the Council of Ministers, which holds the power to veto the operation under Article 10.4 of the Competition Defense Law.

The Ministry of Economy initiated this public consultation for a seven-business-day period,seeking input from citizens,organizations,associations and economic agents that may be affected by the operation, according to its website.

Ministry’s Response and Expert Opinion

The Ministry of Economy has acknowledged the concerns and stated that the information will be refined, contrasting that there is no impersonation of identity and the identifying data are true and that the repeated information entries will also be eliminated. The ministry further emphasized that the consultation has the purpose of obtaining information that can be provided in the decisions process based on criteria of general interest and to transfer a message of trust and rigor.

Though, Manuel Sánchez de Diego, professor of law at the Complutense University and director of the Research Center in Transparency and Open government (CIT), argues that this questionnaire is not the usual procedure to launch a public consultation and it has no precedents. He noted that previous government consultations in legislative processes have typically utilized the Transparency Portal of the General State administration or other government pages.

in case the responses received are modified by the Ministry, and under institutional transparency, the Government should publish the results of the consultation including gross data prior to “purification”.

Manuel Sánchez de Diego, Professor of Law, Complutense University

Social Media reactions

Social media platforms have seen users sharing their experiences of participating in the consultation with fictional data.

FAQ: Public Consultation on BBVA-Sabadell Bid

What is the purpose of the public consultation?

To gather input from citizens,organizations,and economic agents regarding BBVA’s bid for Banco Sabadell.

Why is the consultation under scrutiny?

Concerns have been raised about the potential for multiple submissions and the use of fictional data.

What is the Ministry of Economy’s response?

The ministry stated that it will refine the data, eliminate repeated entries, and ensure the accuracy of identifying information.

What happens after the consultation?

The government will decide whether to elevate the matter to the Council of Ministers, which can veto the operation.