Spain's market supervisor will wait for government to decide on BBVA-Sabadell deal
MADRID, Feb 26 (Reuters) - Spain's stock market supervisor CNMV will wait for the government's decision and the competition watchdog's review of BBVA's (BBVA.MC), opens new tab hostile bid for Sabadell (SABE.MC), opens new tab before deciding on the potential authorisation of the takeover prospectus, CNMV chief Carlos San Basilio said on Wednesday.
In November, the antitrust watchdog said that BBVA's all-share offer for Sabadell, valued in April at more than 12 billion euros ($12.64 billion), must undergo a longer phase 2 review that could extend the process well into 2025 in a deal opposed by the government.
Under Spanish law, the government cannot stop a bid from being made, but it has the final word on whether a merger goes ahead.
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The Herald Scotland
3 hours ago
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