CNMV to Approve BBVA's Takeover Bid for Sabadell Pending Government Decision as BBVA Halts Advertising and Cuts Costs

The Spanish National Securities Market Commission (CNMV) is preparing to approve the prospectus for BBVA's takeover bid (OPA) for Sabadell as soon as the Spanish government issues its decision. The CNMV has maintained close communication with both BBVA and Sabadell since the beginning of the takeover process. Meanwhile, BBVA has ceased advertising its takeover bid and has simultaneously reduced its operating costs, becoming the only bank in Spain to do so amid the acquisition attempt. Additionally, the CNMV has authorized a partial self-takeover bid for shares of CIE Automotive.