Banco de España Comments on BBVA's Hostile Takeover Bid for Sabadell Amid €75 Billion Credit Loss Warning for SMEs

The Banco de España has commented on BBVA's hostile takeover bid for Banco Sabadell, stating that such attempts are generally more complex. BBVA's Torres expressed hope that shareholders would make a swift decision regarding the bid. The bank anticipates that the National Commission on Markets and Competition (CNMC) will authorize the takeover following unprecedented commitments. However, the Catalan business association, Fomento del Trabajo, has warned that if the bid succeeds, small and medium-sized enterprises (SMEs) could face a loss of €75 billion in credit. The second union of Banco Sabadell has requested the Ministry of Labor to halt BBVA's takeover attempt. The ongoing conflict between the CEOE and Cepyme has raised concerns among business leaders about the potential negative impact on the sector. The CNMC is currently conducting a market test regarding the takeover, which may delay the decision until autumn.