BBVA Is Keen to Address Competition Issues on Sabadell Deal -- Market Talk

Dow Jones11-21

1032 GMT - BBVA wants to persevere on addressing issues brought up by Spain's competition regulator on its Sabadell deal, Barclays writes. The Spanish lender proposed new measures, including not closing some branches and keeping commercial conditions in place, after the regulator, know as the CNMC, outlined why the deal requires further in-depth analysis. "It will be key to understand if BBVA will be able to satisfy the next set of CNMC requirements or walks away," analysts Cecilia Romero Reyes and Paola Sabbione write. The commitments presented during the regulator's first phase--which the CNMC said were insufficient or required more scrutiny--were already unprecedented, from BBVA's point of view, they note. The CNMC outlined five risks from a potential merger, moving the case into a phase 2 review.(elena.vardon@wsj.com)

(END) Dow Jones Newswires

November 21, 2024 05:32 ET (10:32 GMT)

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