Rodrigo Buenaventura, president of the CNMV, presented this Tuesday to the Economy Commission of the Congress of Deputies to report on the activity of his organization during the 2023 financial year and update his vision on the different areas that are its responsibility.
Among the many subjects discussed during his appearance was, logically, BBVA’s public takeover offer for Sabadell, which, let us remember, has just passed the authorization filter of the ECB and is waiting for the CNMV and Competition itself (CNMC) give their respective approvals. to definitively launch the offer to Sabadell shareholders.
Buenaventura admitted that “The CNMV can now approve the offer at any time after confirmation by the ECB.” However, he assures that “They want to wait for the competition to show up to be able to provide retailers with all the information on the takeover offer”, while recognizing that it has the duty to do so as quickly as possible because it is a shareholder right. “Our priority is to preserve the right of shareholders to decide whether to accept the offer freely and with full knowledge of the facts, but if the conditions of competition that are imposed are very onerous, in this case the vision of analysts may change and we must ensure that they can do it,” he argues.
