26-02-2025
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 ( opens new tab hostile bid for Sabadell ( 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.
