Editorial: La Vanguardia

• The Spanish Government has significantly tightened the conditions for the potential acquisition of Sabadell by BBVA, Spain's third and fourth-ranking banking entity respectively.
• The process of the public acquisition offer, launched in May 2024, has been marked by slow timings and attempts by both entities to woo Sabadell shareholders.
• The Council of Ministers authorized the continuation of the offer, but subjected it to conditions to maintain legal personality, separate assets, management autonomy, and duly certify it in reports before the imposed deadlines are met.
• BBVA will not be able to lay off workers nor close around 300 offices, something it had in mind.
• It is now up to BBVA to decide whether to continue with the operation under the imposed conditions or dismiss it.

Conclusion: The Spanish Government has prioritized territorial cohesion and workers' interests in its decision to significantly condition the potential acquisition of Sabadell by BBVA.

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