The National Securities Market Commission (CNMV) has agreed to accept for processing the request for the hostile takeover bid that BBVA has presented for Banco Sabadell, as reported by the Catalan entity through a statement.
The CNMV points out that the prospectus and the other documents presented by BBVA on May 24, and which were complemented with more information and modifications on June 4, “conform to the provisions” of article 17 of Royal Decree 1066/2007, of July 27.
However, the body points out that this admission of the application for processing “does not imply any ruling on the resolution relating to the authorisation of the offer, or any of its terms and conditions”, which must be produced in accordance with the deadlines and other established requirements.
Furthermore, the European Central Bank (ECB) must not object to the operation.
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