Sabadell Shareholders Back CEO Reappointment Amid BBVA Hostile Takeover Bid

"It is important that they decide." BBVA today called to focus on the members of Banco Sabadell the future of its OPA on the Catalan entity, which awakens...

The board of directors of Banco Sabadell faces with calmness the shareholders’ meeting this Thursday, despite the climate of tension fostered by the hostile opa launched by BBVA. The official message of the president of the entity, Josep Oliu, and of the CEO, César González-Bueno, goes on to repeat that the absorption operation that the Basque bank tries “does not make sense”. The defense tactic goes one step further: “Puts the well-being of Spa…

The president of Banco Sabadell, Josep Oliu, has defended this Thursday, during his intervention at the General Shareholders' Meeting held in the city of Sabadell, that the entity has projection of future and that "it generates more value for the shareholders of Banco Sabadell and BBVA to maintain the projects of both banks independently". Oliu has assured that "Banco Sabadell is a strong bank, profitable and with prospects of maintaining in the…

BBVA's president, Carlos Torres, stressed that, once the transaction is approved by the authorities, the time will come for the shareholders and that “it is important that they decide”.

The document highlights that in 15 years it has gone from a banking market with 45 entities to just four.

The backs remain high between BBVA and Sabadell. After the Catalan bank has urged the government to block its rival's offer of purchase (opa) for the "damage" that I could provoke the country, the president of the Basque-born entity, Carlos Torres Vila, has defended this Friday that the union of both banks is "a bet for Spain and its companies, to grow and contribute to the growth of the country and its territories".