MADRID, June 11 (Reuters) – Spain’s stock market supervisor said on Tuesday it has started assessing BBVA’s (BBVA.MC), opens new tab 12.28 billion euro ($13.19 billion) hostile takeover bid for Sabadell (SABE.MC), opens new tab, a potential tie-up that Madrid opposes.
The National Securities Market Commission (CNMV) said it had admitted BBVA’s (BBVA.MC), opens new tab application for authorising the deal, which is part of its regulatory process for approving deals.
“The admission for processing of the application does not imply any type of pronouncement on the decision concerning the authorisation of the takeover bid,” the supervisor said in a statement.
Source: REUTER
