The president of BBVA trusts the central government
The president of BBVA, Carlos Torres, is confident that the Central Government will end up appreciating the value of the hostile takeover bid (OPA) for Banco Sabadell. According to Torres, all the terms of the operation will have to be ‘clear’ for the Central Government to appreciate the value of the operation.
The value of the transaction
The president of BBVA argues that this transaction will create a stronger bank that will improve financial support to society through credit. This will generate more results and a ‘superior tax base’ for Spain. Torres believes that it is positive for the country to have a strong bank that can operate at a European and global level.
Rejection of the central government
Sources from the Ministry of Economy, Trade and Business have reported that the Central Government rejects the OPA of a hostile nature. They argue that this operation can have harmful effects on the Spanish financial system and can affect territorial cohesion. The Central Government considers that an excessive level of concentration may introduce an additional risk to financial stability.
