BBVA will study the conditions and possible "alternatives" established by the Spanish Government to the PIE, including the suspension
The head of the Spanish bank, Peio Belausteguigoitia, has stated that a decision will be taken "in the next few days".
The merger of the BBVA and Sabadell has been in question since yesterday, that is, after the Spanish Government has tightened the conditions . The head of the BBVA in Spain, Peio Belausteguigoitia, said on Wednesday that these additional conditions are being studied.
"Our duty is to find alternatives and seize every opportunity," he said, reporting that a decision will be made sooner rather than later and that it will be communicated.
If the EEP continues, the BBVA must submit to the National Securities and Exchange Commission (CNMV) a new calculation of the synergies of the transaction, taking into account the final conditions.
Belausteguigoitia has admitted that, in recent months, the bank has argued that most synergies could continue to materialize from the point of view of technology, but it is not clear to what extent this will depend on the Spanish Government: "Maintaining self-management is basically maintaining self-management.
On Tuesday , the Council of Ministers approved the merger of BBVA and Sabadell if, over the next three years, the two entities maintain separate legal identity and heritage, and each manages its own activity.
The Minister of the Economy, Carlos Cuerpo, explained that the Spanish Government hopes that with this decision the boards of directors of both financial institutions will continue their continuing policies of maximizing the value of each bank.
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