BBVA's CEO: There Is No Guarantee For Anything, Asked About Moving Ahead With Sabadell Deal
July 31 (Reuters) - Chief Executive Officer of Banco Bilbao Vizcaya Argentaria SA BBVA.MC, Onur Genc:
THERE IS NO GUARANTEE FOR ANYTHING ASKED ABOUT MOVING AHEAD WITH SABADELL DEAL, WILL TALK ABOUT THE TRANSACTION IN SEPTEMBER
EXCESS CAPITAL OF BBVA HAS NOTHING TO DO WITH SABADELL DEAL
OUR VIEW WAS THAT THE GOVERNMENT WAS NOT ENTITLED TO WORSEN CONDITIONS IN DEAL FOR SABADELL, WE WILL NOT SPECULATE ABOUT LEGAL CLAIMS NOW
WE DON'T COMMENT ON POTENTIAL LAWSUIT AGAINST GOVERNMENT'S DECISION SET IN DEAL FOR SABADELL
THERE IS CLEAR RATIONALE FOR SABADELL DEAL, THE OFFER IS THE OFFER WITH "AMAZING" PREMIUM ALREADY ANNOUNCED ASKED ABOUT POTENTIAL SWEETENER
IT IS UP FOR SABADELL SHAREHOLDERS TO DECIDE IF THEY ACCEPT BID
SABADELL IS "AMAZING" BANK AND THAT IS WHY WE WANT TO BUY THEM
WE DO NOT SPECULATE ON SCENARIOS OF HOW LIKELY IT IS FOR THE DEAL TO GO AHEAD
WE DO THINK MERGER SCENARIO WITH SABADELL WILL HAPPEN, BUT CREATION OF SYNERGIES WOULD BE DELAYED
WE STILL SEE POTENTIAL VALUE CREATION IN DEAL WITH SABADELL
AFTER SABADELL'S SHAREHOLDERS MEETINGS BBVA HAS OPTION TO WITHDRAW OFFER BUT IF WE DECIDE TO MOVE AHEAD ACCEPTANCE PERIOD STARTS IN SEPTEMBER
BANK IS NOT PLANNING TO LOWER AROUND 50% ACCEPTANCE THRESHOLD IN BID FOR SABADELL AS IT AIMS TO CONTROL THE LENDER
IF SABADELL SHAREHOLDERS APPROVE TSB SALE AND THE EXTRAORDINARY DIVIDEND PAYMENT, BBVA IS ENTITLED TO WITHDRAW THE OFFER
AFTER GOVERNMENT BLOCKED MERGER SCENARIO WITH SABADELL FOR AT LEAST THREE YEARS, IT WOULD BE WITHIN BBVA'S HANDS TO PURSUE FULL-MERGER
SALE OF TSB BY SABADELL WILL BE INCORPORATED INTO BBVA'S BID PROSPECTUS
