Today is the end of the deadline for Sabadell shareholders to decide whether or not to accept the BBVA offer
Hours before the deadline, Banco Sabadell's CEO, César González Bueno, has assured that the figures provided by the BBVA are "voluntary." The BBVA puts the stock sales at 50%, while Sabadell says they do not reach 30%.
The shareholders of Banco Sabadell have until midnight to decide whether to accept the stock exchange proposed by the BBVA.
The result will be known on 17 October, when the National Securities and Exchange Commission (CNMV) will announce the exchange of shares for BBVA securities approved in Sabadell by the amount of capital.
According to the bank chaired by Carlos Torres, the offer will "significantly" exceed the 50% limit required to successfully complete the operation, while representatives in Sabadell estimate that approval will not reach 30%.
However, there is a third option: if the approval is between 30% and 50%, the BBVA may choose to keep the share of shares to be exchanged, in which case it should submit a second wish with the rest of the capital. In this situation, Sabadell shareholders would have the second option to change their securities at a given price, which the CNMV would have to approve.
Hours before the deadline, Banco Sabadell's CEO, César González Bueno, has assured that the figures provided by the BBVA are "voluntary." The BBVA puts the stock sales at 50%, while Sabadell says they do not reach 30%.
Gonzalez Bueno has opted for the second op-ed and, if the operation is carried out, has focused on the shareholders of Sabadell. In any case, he has ensured that the entity "needs time."
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