One of the two main approvals that BBVA was waiting for regarding its hostile takeover bid for Banco Sabadell has arrived. The banking group has reported the decision of non-opposition of the European Central Bank (ECB) to the acquisition of Sabadell.
“The aforementioned non-opposition is a prerequisite for the National Securities Market Commission to authorise the offer for the purposes of the provisions of Article 26.2 of Royal Decree 1066/2007, of 27 July, on the regime of public offers for the acquisition of securities,” BBVA recalls in a statement to the market.
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