Alphavalue / Divacons | The CEO of the Catalan bank, César González-Bueno, said yesterday that BBVA’s takeover bid for the bank “has derailed” and “makes no sense”. At the VII Foro de Banca (Banking Forum) organised by El Economista, he declared that the chances of the merger are “very low” and that he sees no justification for the operation. However, he acknowledged that it is possible that the National Markets and Competition Commission (CNMC) will allow the operation to move to phase 2.
Since BBVA’s offer was made, Banco Sabadell’s shares have risen 7% compared to BBVA’s 15% fall, mainly due to its business in Mexico.
