Sabadell Seeks Transparency in BBVA Takeover Bid
BARCELONA (Reuters) - The chairman of Spain's Sabadell Josep Oliu urged the Spanish government to be transparent on the takeover bid announced by rival bank BBVA so that shareholders have all the information before deciding whether to tender their shares.
"By the time the shareholders have to decide, they should have all the information about what conditions the government might put on this deal," Oliu told journalists in Barcelona ahead of Thursday's ordinary shareholders meeting.
Oliu said the Spanish government, which has opposed the deal that valued Sabadell at more than 12 billion euros in April, will lay down what kind of financial system it wants for the country and look into the social consequences of the deal and its effect on the financing of SMEs.
(Reporting by Jesús Aguado, editing by Inti Landauro)
