Government Consultation on the BBVA OPA, a Step Away From the Courts

Carlos Córdoba has until 27 May to submit the file to the Council of Ministers.

The government cannot prevent the takeover bid, but it has the final say on a possible merger. The government emphasizes that the public consultation on BBVA's takeover bid for Sabadell is not a referendum.

In the corridors of the big banks, when corporate chess moves in silence, the most decisive moves are not the ones that are announced, but the ones that are implied. One of the ones that has been making noise for months is that of BBVA and Sabadell: an operation born in the offices of Madrid, with echoes that already resound in the Mexican bank. If the transaction takes place, in the offices of Paseo de la Reforma in CDMX they see it as “a compl…

The CCOO and UGT unions on Friday asked the government to prevent BBVA's "hostile" takeover bid for Banco Sabadell, considering it a transaction detrimental to society as a whole. In a letter addressed to the Minister of Economy, Carlos Cuerpo, delivered coinciding with the closing of the public consultation on the operation, union leaders Pepe Álvarez and Unai Sordo warn that the merger would represent an excessive concentration of banking powe…

Trade unions denounce the labour and territorial impact of the merger and demand its blockade.

The public consultation opened by the Ministry of Economy on the topic of BBVA and Sabadell concludes this Friday. Carlos Córdoba’s department opened a form on its website so that any interested party – company, organization or individual – could give their opinion about the corporate operation. A lawyer has asked the Ministry to paralyze the process and threatens to appeal it to the courts.