US EditionBBVA Takes some Time Before Deciding on the Opa Al Sabadell without Ruling Out the Judicial Process
16 Articles
16 Articles
BBVA makes a stop on the way as it analyzes the different alternatives it has in its hand with respect to the opa to Sabadell Bank after the government has vetoed the merger for at least three years. "It is our duty to have all the possibilities within an analysis and an evaluation, because we have a fiduciary duty with the interests of our shareholders," said the CEO of BBVA, Peio Belausteguigoitia. During the XLII seminar on economics organize…
The head of BBVA in Spain, Peio Belausteguigoitia, said on Wednesday that the Basque bank is evaluating the additional condition imposed on Tuesday by the government, the obligation to maintain the legal independence, of assets and in the management of Sabadell, which translates into a veto to the merger, the dismissals due to the operation or the closure of offices, for between three and five years. Asked about the matter, the banker has clarif…
"A toll on independence." This is how the spokesman for the government of the Community of Madrid, Miguel Ángel García Martín, described the conditions imposed by the Ministry of Economy for the purchase of Banco Sabadell by BBVA. The number two of Isabel Díaz Ayuso's executive has referred in this way to the issue, in one of the first assessments from the PP environment and before it was done by the president of the party, Alberto Núñez Feijóo.
The head of the bank in Spain, Peio Belausteguigoitia, leaves the door open to "all alternatives and possibilities", including an appeal to the Supreme
The Minister of Economy, Alicia Romero, argues that they comply with the regulations, while BBVA keeps all scenarios open while waiting to finish analyzing the demands of the Spanish executive.
Noticias de Navarra
deia.eusBBVA continues to assess the Government's condition that it will have to independently maintain the Sabadell Bank if its opa over the entity prospers, so for the time being it does not clarify whether it will continue with the operation and whether it will appeal to the Supreme Court the Executive's decision.
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