BBVA's bid to acquire Banco Sabadell is set to face an extended review by Spain's competition watchdog, which is expected to announce a transition to a more detailed Phase 2 assessment. This decision will prolong the current takeover battle by several months, as the board leans away from a quick approval or rejection.
BBVA SA and Banco Sabadell SA are in disagreement over the potential impact of BBVA's proposed takeover of Sabadell on banking services in Spain. As the country's competition authority prepares to make a decision, BBVA's CFO, Maria Luisa Gomez-Bravo, expressed confidence that the deal will proceed without requiring "structural remedies."
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