CdM || The Government has decided to tighten the conditions of the hostile takeover bid launched by BBVA (BBVA) for Banco Sabadell (SAB).
The Council of Ministers has set additional requirements to the commitments already established by the National Commission on Markets and Competition (CNMC) for the operation, as indicated by the Minister of Economy, Carlos Cuerpo, at a press conference this Tuesday.
The Government has authorised the concentration operation, subject to the two entities maintaining separate legal personality and assets for three years, as well as autonomous management.
Cuerpo also specified that the Executive reserves the right to extend the separation period of the two entities to five years.
