Industry Storm: BBVA and Banco Sabadell in Takeover Contest

The Spanish banking landscape is in turmoil as BBVA and Banco Sabadell clash over the planned takeover of the smaller institution. This dispute emerges at a critical time: the Spanish competition authority, known by the acronym CNMC, will soon make its decision on this deal. BBVA is optimistic about the future and assumes that the transaction will proceed without "structural conditions" from the CNMC. This was stated by Chief Financial Officer Maria Luisa Gomez-Bravo in an interview with Bloomberg TV on Thursday. This power struggle highlights the tensions within the Spanish banking market as both institutions strive to strengthen their positions and set the course for future business strategies. The next steps of the CNMC are eagerly awaited, as they could determine the final fate of this bank merger.