Published by Global Banking & Finance Review®
Posted on February 26, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleSpain's CNMV is waiting for government and competition reviews on BBVA's bid for Sabadell, valued over 12 billion euros, with a decision expected by 2025.
MADRID (Reuters) - Spain's stock market supervisor CNMV will wait for the government's decision and the competition watchdog's review of BBVA's hostile bid for Sabadell 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.
(Reporting by Jesús Aguado; Editing by David Latona)
The main topic is the potential merger between BBVA and Sabadell and the regulatory reviews involved.
The merger is significant due to its large valuation and the regulatory scrutiny it faces from Spanish authorities.
The Spanish government has the final say on whether the merger between BBVA and Sabadell goes ahead.
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