Editorial: El Mundo

• BBVA launches a hostile takeover bid for Banco Sabadell, which is rejected by the entity and the governments of Spain, Catalonia, and Valencia.
• BBVA, after international expansion, is seeking to increase its presence in the Spanish market and sees Sabadell as an opportunity to acquire a stronger position.
• Offer price is €12.200 billion, to be executed through share exchange.
• Banco Sabadell has undergone a severe and effective reorganisation under the leadership of César González Bueno.
• The government can veto the merger, despite having technical guarantees, which would be harmful and would be favoring political interests.

Conclusion: It is imperative that decisions in the financial sector be taken with market freedom and consumer interest as the main criteria, leaving aside political interests.

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