The Association of Minority Shareholders of Banco Sabadell (Aambs) has requested to be considered an interested party in the file opened by the National Markets and Competition Commission (CNMC) in relation to the takeover bid that BBVA wants to launch for the entity.
In the petition sent to Competition, the association indicates that it represents the shareholders in the concentration operation and that, therefore, it has a “direct” interest in the final resolution of the file.
Likewise, it argues that the future of the procedure will be decisive for the conditions and effectiveness of BBVA’s takeover bid, which is why it requests to be able to closely follow the procedure in order to “appropriately” inform its associates so that they can exercise their rights as small companies. shareholders.
Furthermore, these minorities point to “news published in the press” in which it is mentioned that BBVA would have transferred a series of commitments to obtain authorization from Competition.
They consider in this regard that any commitment offered by the bank or condition imposed by CNMC is “of crucial relevance” for the minority shareholders, who must decide whether or not to accept the takeover bid and hand over their Sabadell shares in exchange for BBVA securities.
For all these reasons, the association, chaired by Jordi Casas Bedós, has invoked the antitrust regulations that protect its right to be considered an interested party.
The CNMC has decided this week to elevate the operation that BBVA wants to launch on Sabadell to phase 2, which implies a more in-depth analysis of the takeover bid and lengthens the calendar managed by the entity chaired by Carlos Torres.
In addition, it allows interested parties to participate, such as Banco Sabadell itself, which has already announced that it has appeared before the CNMC so that its opinion is taken into account in the final decision.
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