The association of minority shareholders of Banco Sabadell yesterday requested to be considered an interested party in the file opened by the National Markets and Competition Commission (CNMC) in the takeover bid launched by BBVA for the Catalan bank.
He takes the step after Sabadell himself did so hours after Competition decided to analyze it in “Phase II”. The association, chaired by Jordi Casas, claims to represent the shareholders in the operation, which is why it has a direct interest in the final resolution of the file, reported Efe.
Besides, argues that “the future of the procedure will be decisive for the conditions and effectiveness of BBVA’s takeover bid”for which reason it requests to be able to closely follow the procedure in order to adequately inform its associates so that they can exercise their rights as small shareholders.
The association has invoked antitrust regulations to protect its right to be considered an interested party, as it is an entity that represents the minority shareholders of Sabadell, who are the recipients of BBVA’s takeover bid.
For the association, “participation in the file as interested parties is essential” so that the entity can know first-hand the status of the file and thus inform its associates about this aspect “so that they can exercise their rights as shareholders properly,” he points out.
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