Spain's antitrust body approves BBVA-Sabadell takeover with remedies
ReutersApr 30, 2025 8:12 PM
MADRID, April 30 (Reuters) - Spain's CNMC competition watchdog on Wednesday approved the proposed acquisition of Banco de Sabadell SABE.MC by its larger rival BBVA BBVA.MC with certain conditions, clearing another hurdle in the long-running hostile takeover bid.
BBVA wants to create a bank with over 1 trillion euros ($1.13 trillion) in total assets to help it gain scale and better cope with a lower interest rate environment.
($1 = 0.8813 euros)
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