Nov 13, 10:58 AM

Spain Extends BBVA-Sabadell Deal Review Amid Competition Concerns, CEO Onur Genc Prepared to Walk Away

Spain's antitrust authority has extended its review of BBVA's proposed acquisition of Banco Sabadell amid concerns regarding competition, particularly in the Mexican market. BBVA's CEO, Onur Genc, indicated that the bank is prepared to abandon the acquisition if regulatory conditions are deemed too stringent, which could undermine the deal's attractiveness. Despite these challenges, BBVA is reportedly preparing potential remedies to address the competition concerns and secure the acquisition of Sabadell.

#Spain #BBVA #Banco Sabadell #Mexican #Onur Genc #Sabadell

Written with ChatGPT (GPT-4o mini).

Sources

Reuters@Reuters
2 years ago
BBVA readies remedies to secure Sabadell deal despite competition setback https://t.co/EN8Krp8rXl https://t.co/ia68Anb2ot
WSJ Business News@WSJbusiness
2 years ago
BBVA Could Walk Away From Sabadell Deal if Harsh Remedies Are Imposed, CEO Says https://t.co/UZQl3sHRei
Bloomberg@business
2 years ago
BBVA CEO Onur Genc says he’s prepared to abandon the pursuit of rival Banco Sabadell if stringent regulatory conditions were to spoil the deal’s appeal https://t.co/GZ2GlRW4eO

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Spain Extends BBVA-Sabadell Deal Review Amid Competition Concerns, CEO Onur Genc Prepared to Walk Away

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