Please enable JS and disable any ad blocker Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information 2025 at 6:23 AM EDTBookmarkSaveTakeaways NEWThe Spanish government will open a public hearing to receive opinions on BBVA SA’s bid to buy smaller rival Banco Sabadell SA adding an unexpected loop to an already lengthy takeover fight To make a decision with all guarantees the government will launch a hearing “to get opinion from organizations citizens and associations,” Prime Minister Pedro Sanchez said in a speech Monday during a business event in Barcelona While the government wants companies to grow and be competitive this must be done “in the common interest of the country and its people,” he said The latest announcement is out from Banco de Sabadell ( (ES:SAB) ) Banco de Sabadell has announced the continuation of its share buyback program with recent transactions executed between April 28 and May 2 The bank has spent approximately 212.63 million euros which accounts for 86.08% of the program’s maximum monetary amount indicating a strong commitment to the initiative This move is likely to impact the company’s market positioning by potentially increasing shareholder value and demonstrating financial stability Banco de Sabadell is a financial institution operating in the banking industry primarily offering banking and financial services The company focuses on providing a range of financial products and services to its customers including personal and business banking solutions Find detailed analytics on SAB stock on TipRanks’ Stock Analysis page Disclaimer & Disclosure Report an Issue The latest announcement is out from Banco de Sabadell ( (ES:SAB) ) Disclaimer & Disclosure Report an Issue The Spanish government will launch a public consultation on Tuesday on BBVA's hostile takeover bid for Sabadell Prime Minister Pedro Sánchez has announced. During his opening speech at the Cercle d'Economia business forum in Barcelona on Monday the PM said they want to make a decision "with full guarantees," and therefore aim to collect opinions from citizens Sánchez emphasized that his goal is for Spanish companies "to grow get bigger and be more competitive," but added that this should happen "only if it benefits the common interest of the public." Sánchez reminded the audience that after the CNMC's (National Commission on Markets and Competition) favorable report on BBVA's bid for Sabadell the next step is for the Spanish government to decide whether to submit the deal to the cabinet for evaluation and Sánchez has decided to open this public consultation within that timeframe News of the public consultation was greeted positively by Sabadell chair Josep Oliu and business associations Foment and Pimec had a brief conversation at the Cercle d'Economia conference The two executives crossed paths in Barcelona for the first time since the green light from the National Commission on Markets and Competition (CNMC) The Foment del Treball business association added their voice to the criticism of the National Commission on Markets and Competition (CNMC)'s approval of BBVA's takeover bid for Banc Sabadell, labeling it "disappointing, insufficient, and hasty." The Catalan business association is calling on the Spanish government to "halt" the operation and has raised concerns about its potential impact on small and medium-sized enterprises (SMEs), estimating the damage at €70 billion. "We appeal to strategic, general, and territorial interests," Foment del Treball's president, Josep Sánchez Llibre, said to the press before the Cercle d'Economia conference got underway. In addition, he also gave his opinion on the proposed reduction of the working week to 37.5 hours, calling it "the most serious mistake" of any government since Spain's return to democracy. The measure is set to be approved by the Spanish cabinet on Tuesday, but it still needs to pass a vote in Congress to become law. 'Europe: wake up call? How to respond in a moment of political disruption' is the title of the 40th edition of the Cercle d'Economia conference, which runs from Monday until Wednesday at the Palau de Congressos de Catalunya in Barcelona. Despite not being on the official agenda, the BBVA takeover bid for Banco Sabadell will loom large over the discussions, providing a backdrop to the issues addressed in the presentations. Attendees at the conference include Spanish PM Pedro Sánchez; Spain's Minister of the Economy, Carlos Cuerpo, the Vice-President of the European Commission, Teresa Ribera, and the President of the European Council, António Costa. Catalan President Salvador Illa will close the conference in a conversation with Cercle d'Economia president, Jaume Guardiola. Get the day's biggest stories right to your phone Monday - Friday 9am-12pm / 2pm-6pm GMT + 1 All financial news and data tailored to specific country editions CN Sant Andreu led just once in the women’s Champions League final – 2.4 seconds from time Queralt Anton’s winning goal completed a miraculous comeback as they staged a 0-3 run in the last three minutes of the game which title-holders Astralpool CN Sabadell were dominating – especially at three goals up in the middle of the third – but they were unable to break their fellow Spaniards This is a historical first for Sant Andreu while Sabadell’s plan for a three-peat and an all-time record-tying eighth trophy was ruined the bronze went to hosts Olympiacos SFP after they swept FTC Telekom Waterpolo aside 18-11.2024/25 Champions League WomenFinal Four 3 May 2025Olympiacos SFP (GRE) 18-11 FTC Telekom Waterpolo (HUN) – Bronze Medal GameAstralpool CN Sabadell (ESP) 8-9 CN Sant Andreu (ESP) – Gold Medal Game Sabadell may have been dominant in the Spanish league but it was St Andreu that managed to break their reign in single-game finals notably by claiming back-to-back Spanish cup titles this was the Champions League final – the biggest match in the club’s history – and it unsurprisingly took some time for the underdogs to settle title-holders Sabadell went about their business and quickly established a 3-0 lead thanks to a stunning Simone van de Kraats hat-trick The Dutch star put away two man-ups and lobbed a nice one from a counter while St Andreu looked a little bewildered in attack Olympic champion Elena Ruiz opened St Andreu’s account after five minutes with a fierce shot from the perimeter Paula Camus scored a great goal from the centre for 3-2 St Andreu also forced two more six on fives to go even before the first break but they couldn’t beat Sabadell’s defence and goalkeeper Laura Aarts That proved painful as Sabadell struck first in the second quarter with Rita Keszthelyi’s exquisite lob doubling the defending champions’ lead but St Andreu also lacked the necessary energy to catch up their arch-rivals Sabadell could finally launch a clean three on two counter and Bea Ortiz gently put the ball in the net for 5-2 Their fellow Catalans also overcame their difficulties Nona Perez sent the ball home from a six on five Since the remaining two minutes of the half brought only battling with no real chances Perez’ great individual action goal reduced the gap to one shortly after the restart and van de Kraats returned to the stage with a fantastic shot from distance St Andreu then missed a crucial six on five and Ortiz’s rocket gave Sabadell a three-goal lead once more plus a brilliant six on five play and Perez’s third of the night cut St Andreu’s deficit to one again but each side’s defence worked hard to keep the score at 7-6 before the final quarter The chess-like game continued there – it was a big tactical battle Sabadell couldn’t create any real danger in their first six on five and St Andreu couldn’t even force an exclusion and even though their first attempt hit the frame of the goal their second attempt succeeded – Keszthelyi’s blistering shot bouncing in off the post for 8-6 The Hungarian star then let two more shots fly so Sabadell missed the opportunity to maybe end the contest a time-out 3:07 from the final buzzer helped St Andreu to regroup and Ariadna Ruiz hammered in a stunning strike from action for 8-7 as Queralt Anton’s shot was an even more spectacular rocket from the perimeter with 1:58 to go Van de Kraats’ lob then hit the woodwork and the chasers had their golden moment coming – a six on five after another time-out with 19 seconds on the clock It looked for a while that Sabadell’s defence could clear the ball but Anton somehow found it among the defenders and fired it in from 7m – with just 2.4 seconds remaining as an easy block sealed a famous victory for St Andreu and completed a remarkable comeback it was a miracle in the water – a 0-3 run in the last three minutes It was a special way to write history and lift the most prestigious trophy for the first time in the club’s histroy – as well as denying Sabadell a three-peat Sabadell – stuck on seven titles – will now have to wait at least another year to catch up Orizzonte on the all-time ranks where the Italians still lead with eight trophies Earlier on Saturday – in the bronze medal game – hosts Olympiacos started brightly and jumped to a 4-1 lead in a span of two and a half minutes as the game was following a similar pattern to their semi where they scored first then conceded four in a row The Hungarians fought back to 5-3 early in the second but two fine perimeter shots from Vasiliki Plevritou and Abby Andrews quickly put the hosts on the path to the medal podium Vanda Valyi pulled one back from a penalty then the Magyars killed three Greek six on fives but they were still unable to penetrate Olympiacos’ stubborn defence and their French international goalkeeper Mia Rycraw was also doing a splendid job The hosts’ Maria Myriokefalitaki then did what they were failing to do in their six on fives as she scored from the centre with a brilliant backhander to make it 8-4 while Olympiacos hit two from action in 31 seconds to make it 10-4 Even though Fradi had a better spell a little later when they scored two from back-to-back possessions the Plevritou sisters on Olympiacos’ side were doing a way better job and captain Margarita was outstanding in defence – while Fradi’s Eleftheria couldn’t come up with her usual great contributions in this match Olympiacos were a class apart in the third period they added seven in the penultimate quarter to go 15-6 up to secure the bronze medal before the fourth had even started The Greek defence loosened up a bit once the game was sewn up but Vasiliki Plevritou continued to fire in some brilliant shots – she stopped at seven goals it could even be said she made the difference Tel: +41 22 552 99 99Fax: +41 22 552 99 89 eaoffice@europeanaquatics.org Powered by MicroPlus Data Processing & Timing English Español The Spanish National Markets and Competition Commission (CNMC) has authorized, in phase two and after 11 months of analysis, the combination of BBVA and Banco Sabadell. With this transaction the combined entity would result in the second-largest Spanish financial institution in terms of credit volume The authorization is subject to a series of unprecedented remedies in the Spanish financial sector “The union with Banco Sabadell is a project of growth which will allow us to increase our lending capacity to businesses and households by an additional €5 billion per year the remedies that we assume favor financial inclusion and preserve competitiveness—especially in places where Banco Sabadell has a greater presence such as Catalonia,” said BBVA Chair Carlos Torres Vila “considers that the remedies presented by BBVA are adequate sufficient and proportionate to solve the problems that this concentration poses for competition in the affected markets.” following this authorization by the CNMC and as established by Law 15/2007 on the Defense of Competition the Ministry of Economy has fifteen working days to decide whether to refer the concentration to the Council of Ministers the Council of Ministers will assess the transaction based on public interest criteria other than the protection of competition and it must issue its decision within a maximum period of one month (calendar days) The CNMC has approved the BBVA and Banco Sabadell transaction subject to compliance by BBVA with the following remedies territorial cohesion and protection for vulnerable customers With the aim of ensuring lending for SMEs and the self-employed In order to guarantee that commercial terms and conditions are maintained for retail customers BBVA has committed to divest certain levels of stakes in payment processing companies (Redsys Bizum and Servired) as mandated by these companies' bylaws BBVA has also committed to make the standard customer service channels available to address any issues related to the implementation of the remedies and has committed to collaborate with the CNMC to confirm proper compliance with all remedies Argentina Colombia Switzerland Belgium Mexico United Kingdom Uruguay Peru Venezuela © Banco Bilbao Vizcaya Argentaria, S.A. 2025 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world 2025 at 11:22 AM EDTBookmarkSaveTakeaways NEWSpain’s antitrust agency approved with strict conditions BBVA SA’s €13 billion ($14.8 billion) bid to buy smaller rival Banco Sabadell SA setting the stage for the government to have a final say in the year-long takeover fight according to a person familiar with the matter The approval is set to be officially announced as early as today asking not to be identified as the matter is not public Terms are expected to be feasible for BBVA who had previously said it could walk away if the conditions were too onerous Title-holders Astralpool CN Sabadell defeated hosts Olympiacos SFP in the first thrilling semi-final of the Champions League Women Final Four in Piraeus Two late goals secured the Spaniards’ 13-15 win over the Greeks which has presented them with a chance for a three-peat Sabadell may become the second team in history to achieve that feat after Orizzonte’s great run between 2004 and 2006 CN Sant Andreu downed newcomers FTC Telekom Waterpolo 10-7 to ensure Saturday’s final is an all-Spanish affair 2024/25 Champions League WomenFinal Four Olympiacos SFP (GRE) 13-15 Astralpool CN Sabadell (ESP)CN Sant Andreu (ESP) 10-7 FTC Telekom Waterpolo (HUN)Final Four 3 May 2025(Local times shown)16:30: Olympiacos SFP (GRE) v FTC Telekom Waterpolo (HUN) – Bronze Medal Game18:30: Astralpool CN Sabadell (ESP) v CN Sant Andreu (ESP) – Gold Medal Game Fully-packed stands and an electrifying atmosphere awaited the teams in the first semi-final in Piraeus It was another highly-anticipated showdown between Europe’s top two women’s sides as apart from Kinef Kirishi’s back-to-back triumphs in 2017 and 2018 only these two teams have lifted the trophy since 2013 while Olympiacos have emerged as winners three times when Sabadell were on a roll and left no chance for the Greeks – so this game was a rematch of last year’s final it was the first chapter in their quest to make the club’s 100th anniversary a memorable one on behalf of the water polo team – since the men’s team sank unexpectedly in the Champions League the women remained their only hope to reach the highest heights as six of the first eight possessions ended up with a goal thanks to a couple of pinpoint finishes from Dutch leftie Simone van de Kraats and a penalty from Bea Ortiz but Vasiliki Plevritou also fired in a penalty and a fine backhander from Maria Myriokefalitaki on 2m plus a counter attacking goal from Stefania Santa made it 3-3 Paula Leiton also hammered in a brilliant one from the centre at the other end before the defences regained some ground to freeze the scoreboard for two and half minutes Aussie leftie Abby Andrews managed to swim away to equalise once more and after Sabadell gave the ball away for the second time – with a way too long cross-pass – the Greeks had enough time to force a six on five and Santa sent the ball home to put Olympiacos ahead for the first time at 5-4 The second period started off in a similar manner as the early minutes saw a flurry of goals A deflected shot from Irene Gonzalez brought the title-holders back to even Then Foteini Tricha netted a great one from action but van de Kraats was also on target from a second attempt in an extra to make it 6-6 so forced and unforced errors followed from the attackers Entering the last minute of the first half Tricha arrowed in her shot nicely from a woman-up but Maggie Steffens was also on target from the perimeter in the next possession the hosts retook the lead 15 seconds from time as Vasiliki Plevritou converted another penalty for 8-7 After two minutes of battling in the third Rita Keszthelyi’s one-timer from the left wing levelled the scores then Laura Aarts made a big save to deny Santa in a one-on-one but she couldn’t put her hand on Myriokefalitaki’s next backhander after the corner Sabadell had to score twice to equalise for 9-9 – as a VAR review led to a red card for Sofia Tornarou for an earlier act of unnecessary roughness (though no 4min expulsion) but this annulled the Spaniard’s previous possession where they forced a penalty and scored Their replayed attack then bore an extra and US star Steffens pushed the ball in from close range to finally make it 9-9 with 3:44 to go in the third The next twist came following a six on five for the hosts went for a clean counter and Ortiz gave goalkeeper Mia Rycraw no chance Myriokefalitaki had an easy put-away in the next six on five but Aarts denied the Greeks in a woman-down – and the title-holders may have led by two but van de Kraats hit the bar in the dying seconds of their extra Sabadell wasted another extra early in the fourth and they paid for it as Andrews’ pinpoint shot in Olympiacos’ next six on five was simply brilliant – so the scores stood at 11-11 instead of 10-12 but not for long as Santa found the back of the net from 7m saw van de Kraats send the ball home – her fifth hit of the night Andrews’ fierce shot during an extra levelled things up once more at 13-13 but Sabadell managed to score again despite their first shot being denied in their six on five – a smart assist from Keszthelyi to Tara Prentice for a close shot made it 13-14 then the title-holders’ patient play ended in another extra and a great set-up for Steffens resulted in a two-goal gap at 13-15 as they gave the ball away in a six on four with 1:17 to go so they failed to make the final at home again after 2022 the crowd celebrated the team as if they had won the trophy – it was a really great moment after the match the Sabadell players happily hugged each other as they advanced to the final for the fourth time in a row and it’s going to be their 10th appearance in the last 12 editions a quick-exchange of woman-up goals kicked off the action with both coming from the same position at the top of the arc St Andreu goalkeeper Martina Terre came up with a big save in the next six on five and a bit later Queralt Anton’s fine shot from the perimeter gave the Spaniards a 2-1 lead FTC’s stopper Boglarka Neszmely also joined the party with a penalty block but she couldn’t do anything with Anton’s bouncer that followed as they couldn’t break through St Andreu’s zonal defence And the Ruiz siblings were making them pay for that this time it was Ariadna’s turn to hit a one-timer as they had a goal disallowed by an exclusion call – the referee waved sorry to the bench – and they missed their third six on five in a row to remain scoreless after netting the opener after 33 seconds There were more missed six on fives early in the second quarter before Gurisatti found a hole under Terre’s arm to score from an extra What wasn’t working in the opening period as a couple of fine blocks denied the Spanish perimeter shots finished off by Eleftheria Plevritou reduced the gap to one at 4-3 St Andreu missed a six on five and Fradi had an extra to go even but a bad pass ruined their play and Elena Ruiz scored a nice one from the ensuing counter for 5-3 as Vanda Valyi’s sneaker made its way to the net there was time for more as Paula Camus delivered a penalty and Ariadna Ruiz converted that in the next possession Great blocking killed six on fives at both ends early in the third then Terre had a brilliant stop – as did Neszmely in the other goal Six 6 on 5s saw no goals – three apiece – which was a bit more painful for FTC as the clock was ticking down and the Spaniards still led by two came after a time-out with two minutes remaining – a 2m violation spoiled it but a turnover foul and extra created another chance for the Spaniards and Anton finally broke the ice with 1:26 to go Dora Leimeter gave some hope for the Hungarians as she netted a woman-up with seven seconds to go – though only after they missed another one; so the Spaniards were still sitting in the driving seat at 7-5 FTC were unable to create a clean shooting opportunity in their first extra in the fourth and that came back to hurt them when Camus beat two defenders and the goalie from the centre to make it 8-5 Gurisatti couldn’t beat Terre either – FTC were four from 15 in extras at this stage which is definitely not game-winning stats A time-out gave the Hungarians a little boost as Leimeter scored a great one from action followed by Valyi’s hit from a counter – so in a span of just 49 seconds Anton’s 4th hit of the night came at a crucial moment for St Andreu as it reset the two-goal gap with two minutes remaining And some good defending killed the Magyars’ momentum another cold-headed finish from Alba Munoz for 10-7 closed down the contest as only 1:03 remained in the match St Andreu scored back-to-back extras when it mattered the most – the only way to win matches at this level This sent them to the final to set-up another all-Spanish showdown after 2023 when Sabadell downed Mataro it’s St Andreu’s turn to challenge the mighty queens of Europe The Spanish government will open a public consultation regarding the proposed acquisition of Banco Sabadell by its larger rival BBVA Prime Minister Pedro Sánchez announced on Monday "The Spanish government will open tomorrow a consultation...in order to gather the opinion of citizens' organizations and associations," he said. His comments come after Spain's competition watchdog CNMC approved on Wednesday the deal subject to several remedies. The deal, valued at around 12 billion euros ($13.59 billion) when it turned hostile last May, is opposed by the Spanish 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. Spain's economy ministry has now 15 business days to take the deal to a cabinet meeting. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView Please try using other words for your search or explore other sections of the website for relevant information Our team is working diligently to resolve the issue Thank you for your patience and understanding (RTTNews) - The National Commission on Markets and Competition or CNMC has authorized the acquisition of exclusive control of Banco Sabadell by BBVA through a public acquisition offer that was announced on May 9 BBVA has submitted commitments that have allowed the transaction to be authorized The CNMC noted that the authorization is not final It will be communicated to the Minister of Economy and Enterprise for a decision on whether to refer it to the Council of Ministers The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq This data feed is not available at this time These symbols will be available throughout the site during your session These instruments will be available throughout the site during your session Smart Portfolio is supported by our partner TipRanks. By connecting my portfolio to TipRanks Smart Portfolio I agree to their Terms of Use Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country Digital access for organisations. Includes exclusive features and content. See why over a million readers pay to read the Financial Times. BANCO DE SABADELL : EPS upgrade on lower impairments Free NewsletterUK Join the newsletter that everyone in finance secretly reads Spain’s CNMC has approved BBVA's acquisition of Banco Sabadell imposing changes to ensure retail banking remains competitive BBVA is set to acquire Banco Sabadell with conditions to keep the retail banking sector fair. This move marks Spain's attempt to balance market consolidation with competition. While BBVA adapts, other Spanish financial companies like Redeia are reporting strong profits with a Q1 profit of €137.8 million signaling sector stability AENA and Iberdrola's target prices have been raised by JP Morgan and others highlighting confidence in Spain's economy as market dynamics evolve For markets: Spanish bank shake-up stirs investor interest alongside robust financial results from companies like Realia and Merlin Properties Investors should keep an eye on sector changes especially in banking and renewable energy The bigger picture: Confidence on the rise in Spanish economy reflect growing optimism about Spain’s economic future suggests policies that could sustain growth and attract global investors It’s hard to pick the right individual stocks It’s even harder to pick the right work shirt when the subway is sweltering hot So consider your wardrobe a fund and Luca Faloni the active manager the menswear company knows its way around luxurious fabrics fine Italian craftsmanship and making investment-worthy staples So here are the finest shirts Luca Faloni recommends for your style portfolio: Diversify your wardrobe: take your pick (if you can bear to choose between them) here. Theodora Lee Joseph, CFA The Great Wealth Transfer Is Coming – Here’s How To Profit From It Stéphane Renevier, CFA Markets Could Pick A Direction This Week – Here's Why Jonathan Hobbs, CFA Why GameStop Might Actually Be Worth A Look Right Now Theodora Lee Joseph, CFA Political Risk Is Part Of A Stock’s Value Now – And, No, You Can’t Afford To Tune It Out Theodora Lee Joseph, CFA Apple And Amazon’s Results Were Sturdy, But Their Future Looks A Little Less SoREAD NEXTNews Skechers Goes Private In $9.4 Billion Deal With 3G Capital Finimize Newsroom Edgewell Braces For 2025 Challenges As Tariffs Bite Finimize Newsroom One Common Hedge-Fund Trade Could Bring Down Financial Systems – And It Nearly Backfired This Week Russell Burns Tariffs Are Spooking Investors Into Panic-Selling – Here’s What to Do Instead Reda Farran, CFA Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap Russell Burns A Defensive Portfolio Prepared For The Wealth Effect’s Reversal Stéphane Renevier, CFA Apple And Amazon’s Results Were Sturdy, But Their Future Looks A Little Less So Theodora Lee Joseph, CFA "Trying To Crash The Market On Purpose": How To Invest In A Trump Era Reda Farran, CFA Spain's regulatory body approved a hostile takeover by the Basque bank BBVA of the Catalan bank Sabadell on Wednesday night, following months of analysis. BBVA celebrated the decision as it will "benefit the financial inclusion and loans to small and medium-sized enterprises (SMEs) and freelancers," Carlos Torres "A union with Banc Sabadell is a project focused on growth which will also allow us to increase the capacity to grant loans to companies and families with an extra of €5 billion annually," he added Sabadell stated that they are opposed to the methodology used by the Comisión Nacional de los Mercados y la Competencia (CNMC) Bank officials say that the process is "not adequate" as it does not analyze the situation that SMEs will face after the hostile takeover Banc Sabadell's majority of shareholders are individuals and small companies who own part of the bank The association of minority shareholders of Banc Sabadell believes that the CNMC's credibility is "inexistent" after the approval was leaked to the press before it was officially announced urged for an "informative report" in an interview with the Catalan public news channel 324 as the leaks happened when the stock market was still open "This is something very serious," he added and warned that not even large funds will take part in the hostile takeover as they are just "going to lose money." Catalan president Salvador Illa said that Banc Sabadell is part of "Catalonia's historic and traditional banking system that looks after its businesses and its companies with a social approach." will thoroughly study the report and all its data to develop a coherent action plan to defend Catalonia's interests The Socialist Party in Catalonia, which Illa leads, also stated that it is time to "await" the Spanish government's decision and once that happens, the group "will announce its position," spokesperson Lluïsa Moret told media outlets before a demonstration organized on May 1, coinciding with International Workers' Day. Following the CNMC's approval, the BBVA-Banc Sabadell banking deal now requires clearance from the Spanish government. The executive is permitted to include additional conditions based on competition laws. Spain's labor minister, Yolanda Díaz, has already warned that the hostile takeover is a "very bad thing," as "financial democracy will be the one that loses." "We never talk about it, but it is the most important thing, such as human rights," she said in an interview with Spanish public broadcaster La 1. She warned that the Spanish cabinet has "the last say" and "urged ministers to do what we said we would do," which is to stop the "terrible mistake" that this operation represents. Díaz also pointed out that it will have "a huge impact" on Catalonia and that many sectors oppose the banking deal. A message agreed upon by Spain's Culture Minister, Ernest Urtasun, who also stated that one of the most important lessons learned from the 2008 financial crisis is that larger banks do not guarantee financial stability. The non-profit association specializing in the protection of financial users, Asufin, believes that the hostile takeover will result in fewer bank branches across the territory. "The magnitude? That is something still to be analyzed, but we are very worried," Patricia Suárez, president of Asufin, told La 1. "I find it quite harsh to see some good news for the end consumer and SMEs out of the banking deal from BBVA on Sabadell," she added. Banco Bilbao Vizcaya Argentaria ( (ES:BBVA) ) has shared an announcement BBVA has received authorization from the National Commission of Markets and Competition (CNMC) for its acquisition of Banco de Sabadell forming the second largest financial entity in Spain by credit volume This merger is contingent upon commitments to maintain financial inclusion and credit access for SMEs and freelancers including maintaining office operations in underserved areas and offering favorable commercial conditions More about Banco Bilbao Vizcaya Argentaria Banco Bilbao Vizcaya Argentaria (BBVA) is a prominent financial institution operating in the banking industry offering a wide range of financial services and products The company focuses on providing banking solutions to individual clients and small and medium-sized enterprises (SMEs) with a significant market presence in Spain Learn more about BBVA stock on TipRanks’ Stock Analysis page Banco Bilbao Vizcaya Argentaria ( (ES:BBVA) ) has shared an announcement © ReutersLoading theElevenlabs Text to SpeechAudioNative Player...Lloyds Banking Group on Thursday reported a 6.7 per cent decline in first-quarter pre-tax profits to £1.52bn, just below the £1.53bn analyst consensus, as higher costs and loan impairment charges weighed on earnings. The UK lender said it had set aside £100mn to account for the impact of newly imposed international tariffs. Plus: UK ministers summon bank chiefs over SME lending concerns, and more Plus: NatWest posts strong Q1 profit ahead of full privatisation, and more Plus: BoE warns of higher loan loss provisions linked to US tariffs, and more Plus: Erste Group in talks to buy 49% stake in Santander Bank Polska, and more It's been one year since Bilbao-based banking giant BBVA launched its takeover bid for Banc Sabadell and all eyes are now on the imminent ruling from Spain's National Commission on Markets and Competition (CNMC) BBVA's proposal to acquire the Catalan bank was one of the major financial headlines of 2024 and its outcome is expected to shape the economic landscape in 2025 Financial analysts speaking to the Catalan News Agency (ACN) broadly agree: once the green light comes from regulators it’s a battle to see who is stronger," one expert remarked The acquisition is seen as a strategic move by BBVA to strengthen its market position in Spain and reduce its reliance on emerging markets like Mexico and Turkey Analysts dismissed the idea that Donald Trump's return to power would significantly affect the operation co-director of the master's degree in finance and banking at UPF assures that this takeover bid is "completely different" from other bank mergers that have taken place in Spain "We are talking about two significant entities and their merger would create a major player," he says finance professor at the Open University (UOC) says the takeover is taking "longer than would be usual" in other types of companies because it affects banking BBVA is currently offering one of its shares for every 5.3456 Sabadell shares The offer has been slightly adjusted since it was first made but with Sabadell's stock price outperforming BBVA's the current deal holds little appeal for Sabadell shareholders BBVA chair Carlos Torres has always denied that an improved offer will be forthcoming "I think BBVA is saving something for the last moment," she says has focused on reaching out to small shareholders who obviously do not want to change banks," says Dotras is doing everything possible to make it clear that it is "totally in disagreement" with the takeover bid This includes returning its headquarters to Catalonia which some experts claim is a "political" move to gain "influence" at a certain point in the operation bearing in mind that if the takeover bid reaches phase three in the CNMC's investigation the Spanish government will have a say in the final outcome OC believes that Sabadell will "bring out the entire arsenal of war" so that the share price rises "as high as possible," to show shareholders that "they have a good strategy" and a "good future" on their own April 30 marks exactly one year since BBVA announced its intention to acquire Banco Sabadell A week later, Sabadell's board unanimously rejected the offer arguing that it significantly undervalued the bank’s strategy and future as an independent entity On May 9, BBVA bypassed the board and took the proposal directly to shareholders, an aggressive move that was immediately met with resistance from business groups, unions, and political leaders. One year into the bid, the market is now waiting for the CNMC to issue its decision, with some predicting a possible shareholder vote on the takeover bid towards the end of the summer or during the third quarter. v1.1.0. Copyright © 2025. Powered by EBANTIC. All rights reserved. Spain's competition regulator CNMC has approved BBVA's hostile takeover bid for Banco Sabadell on Wednesday evening. the competition authority gave the green light after a meeting The CNMC's five-member Competition Chamber reconvened on Wednesday after a meeting on Monday was interrupted due to the widespread blackout The approval means bank BBVA can approach Sabadell shareholders with greater confidence, and they may now sweeten the deal to seal the acquisition, according to analysts the Catalan News Agency (ACN) spoke to before the regulator gave its approval The CNMC has announced that it saw some "risks" in the end-customer banking sector CNMC reports that "BBVA handed some agreements that facilitated green lightning the operation," a press release reads the regulator now considers that these compromises by BBVA are "adequate and proportionate to solve the problems the fusion would mean in terms of monopoly in the affected markets Bilbao-based banking giant BBVA announced its intention to acquire Catalan bank Sabadell exactly one year ago One year on from the bid, the CNMC approval opens the door to a possible shareholder vote on the takeover bid, possibly towards the end of the summer. The regulator's decision means that the Spanish government is the next authority forced to decide on the financial operation. However, the cabinet can impose extra conditions on BBVA's takeover bid. The Spanish finance ministry will now have two weeks to analyze the situation before submitting it to the weekly cabinet meeting. Once that happens, the executive would have 30 days to decide on their position. For the hostile takeover to be concluded, over half of Banc Sabadell shareholders should approve it in a vote expected, if everything goes as planned, before summer. BBVA is currently offering one of its shares for every 5.3456 Sabadell shares, plus a cash payment of €0.70. The offer has been slightly adjusted since it was first made, but with Sabadell's stock price outperforming BBVA's, the current deal holds little appeal for Sabadell shareholders, who ultimately have the final say. BBVA chair Carlos Torres has always denied that an improved offer will be forthcoming, but Dotras disagrees. "I think BBVA is saving something for the last moment," she says. 2024 – Banco Sabadell has successfully completed a joint project with Accenture (NYSE: ACN) and QuSecure to explore the adoption of Post-Quantum Cryptography (PQC) technologies in the bank’s infrastructure This project is a significant step forward in bolstering resistance to quantum attacks with Banco Sabadell leveraging QuSecure’s software for crypto agility and open-source libraries to modernize and orchestrate encryption Accenture and QuSecure resulted in a comprehensive understanding of the steps required for the bank to become quantum-resilient and provided an initial estimation of how quantum security technologies can be adopted The successful completion of the four-month project further demonstrates the organization's commitment to staying ahead of advancements in the quantum security race “Cryptography plays a crucial role in banking digital interactions with customers and communications with market infrastructure It is also essential for protecting sensitive information As we transition into a post-quantum computing era the challenges include identifying the use of cryptographic methods vulnerable to quantum attacks and transitioning to quantum-safe cryptography with agility and efficiency,” explains Joan Puig in collaboration with Accenture and QuSecure has allowed us to explore the impact of the adoption of post-quantum cryptography technologies on the bank's infrastructure.” According to the Financial Services Information Sharing and Analysis Center (FS-ISAC) the transition to crypto agility must start immediately and is a long-term strategy "We are excited to be collaborating with Banco Sabadell and QuSecure on this groundbreaking project," said Tom Patterson emerging technology security lead at Accenture "Our expertise in quantum risk and our quantum security test labs enabled Banco Sabadell to gain a competitive edge with a clear and proven roadmap for transitioning to quantum-safe technologies incorporating the latest NIST PQC standards This collaboration underscores our commitment to helping organizations safeguard their data from emerging threats posed by the rapid quantum computing advancements.” “QuSecure is advancing encryption agility and security at the network layer,” said Elizabeth Green SVP of Customers and Ecosystems at QuSecure “This is the fastest and easiest way to protect enterprises without having to rip and replace existing infrastructure Working with Accenture and Banco Sabadell was a delight and proves that mitigation of existing encryption to Post Quantum Standards for complex environments is possible and can be achieved expediently this decade in advance of NIST recommended deprecation of many major algorithms.” The rise of quantum computing challenges modern-day cryptography Preparing and adapting cryptographic methods to withstand the power of quantum technologies involves developing quantum-resistant algorithms and reevaluating current security protocols Proactively addressing these concerns is crucial for maintaining the integrity and confidentiality of digital communications in the quantum era About QuSecureQuSecure is a leader in quantum-safe cybersecurity with a mission to use the advent of quantum computing to act as a catalyst to fix the foundation of data security infrastructure The QuProtect platform requires no quantum technologies to defend against quantum QuSecure is proud to have more successful post-quantum cryptography deployments than any other organization in the world and the technology is currently deployed with government and infrastructure customers across the globe QuSecure’s quantum-resilient and crypto-agile solutions provide an easy transition path to quantum resiliency anytime The company’s QuProtect solution is the industry’s first cryptographic agility platform to facilitate upgrades to PQC and beyond. Book a no-obligation two-hour CISO road mapping workshop with QuSecure’s experts to start your PQC migration planning and take the QuProtect software for a test drive Contacts:Alison GeibAccenture+1 703 947 4404alison.geib@accenture.comDenise BerardAccenture+1 617 488 3611denise.berard@accenture.comDan SpaldingQuSecureSpalding Communications, LLC+1 408 960 9297dan@spaldingcomm.comBanco Sabadell+34 93 748 50 19sabadellpress@bancsabadell.com Men's National Team captain Ben Hallock and Pro Recco picked up a pair of wins over Posillipo and Roma Vis Nova The Italian giants also benefited from Max Irving and Brescia's first loss of the Serie A1 season a 7-6 defeat to Tyler Abramson and De Akker Brescia's lone loss gives Pro Recco a three point lead for first place in the standings Marko Vavic and Savona took care of Roma Vis Nova and Onda Forte as Savona has the third place spot all locked up Abramson and De Akker now sit in a tie for fourth with Trieste after a win over Onda Forte and the previously mentioned upset of Irving and Brescia Quinn Woodhead and Roma Vis Nova sit right behind the fourth place tie while Drew Holland and TeliMar are behind the pack in tenth place following two losses A post shared by AN Brescia (@an.brescia) A post shared by TeLiMar Pallanuoto (@telimarpanuoto) Dylan Woodhead and Vouliagmeni beat PAOK while goalkeeper Adrian Weinberg and Chios fell to Ydraikos in the Winner's Stage of the A1 Ethniki season División De Honor (Day 19/22) March 25/29 Team USA attacker Alex Bowen registered five scores in a loss to Barceloneta and four goals in a win over Terrassa to wrap up regular season play in Division De Honor Sabadell finishes the season in second place and will face Barcelona in the semifinal A post shared by LEWaterpolo (@lewaterpolo) A post shared by LEWaterpolo (@lewaterpolo) Women's Champions League (Quarterfinal Stage Women's National Team captain Maggie Steffens scored once for Sabadell who lost its first game of the season but also clinched a spot in the semifinals on aggregate. Steffens, Tara Prentice and Sabadell will play the Greek team of Olympiacos in the semifinals A post shared by Club Natacio´ Sabadell (@cnsabadell) A post shared by Maggie Steffens Conner (@maggie.steffens) Women's División De Honor (Day 20/22) March 29 Maryn Dempsey and Tenerife were narrowly outlasted by Real Canoe on Day 20 in Spain while Sabadell unleashed a big victory over Rubi during early Day 22 action American goalkeeper Isabel Williams and Glyfada came up short against Champions League quarterfinalist Alimos while attacker Malia Allen and Panionios beat AEK Here's a look ahead at some important matches featuring Team USA athletes: A post shared by Pro Recco Waterpolo 1913 (@prorecco) Australian Water Polo League (Finals) April 4-6 Women's División De Honor (Day 20-21) April 3-5 Thanks for visiting The use of software that blocks ads hinders our ability to serve you the content you came here to enjoy We ask that you consider turning off your ad blocker so we can deliver you the best experience possible while you are here Zurich Insurance Group AG has amassed a substantial stake in Banco Sabadell SA potentially giving it more influence over an important source of sales that’s facing a hostile takeover bid The Swiss firm has increased its holding in Sabadell to almost 4% since first crossing the notification threshold of 3% in October according to data published by the Spanish regulator CNMV The insurer started accelerating the purchases late last month and has recently become the bank’s second-largest investor The growing investment comes while Sabadell is seeking to defend itself against a takeover by a larger domestic rival whose formal name is Banco Bilbao Vizcaya Argentaria SA runs a joint venture with a Zurich competitor through which the Spanish lender sells the Swiss firm’s insurance products has long been a significant source of sales for Zurich The “Bansabadell” entities generated $643 million in insurance revenue last year according to the insurer’s latest annual report Representatives for Zurich and Sabadell declined to comment BBVA’s offer for Sabadell needs approval from various regulators before it can be presented to the target’s shareholders Sabadell’s management has rejected the offer as too low and the bid has also faced pushback from the Spanish government which has raised concerns about market concentration Zurich’s current holding in Sabadell has a market value of about €570 million ($618.3 million) The Spanish lender’s stock has risen about 45% this year to date making it one of the best performers across major European banks Photograph: Customers use automated teller machines (ATM) at a Banco Sabadell SA bank branch in Barcelona Please tell us what we can do to improve this article Get the insurance industry's trusted newsletter Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Connecting decision makers to a dynamic network of information Spain’s antitrust agency approved with strict conditions BBVA SA’s €13 billion ($14.8 billion) bid to buy smaller rival Banco Sabadell SA workflow tools and premium legal & business news Log in to keep reading or access research tools