Spain to Open Public Hearing into BBVAs' ‘Hostile' Sabadell Bid
The Spanish government will open a public hearing to receive opinions on BBVA SA's bid to buy smaller rival Banco Sabadell SA, adding an unexpected loop to an already lengthy takeover fight.
To make a decision with all guarantees the government will launch a hearing 'to get opinion from organizations, citizens and associations,' Prime Minister Pedro Sanchez said in a speech Monday during a business event in Barcelona, attended by the chairmen of both lenders. While the government wants companies to grow and be competitive this must be done 'in the common interest of the country and its people,' he said.
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