Banco Sabadell is a defense before Bbva veta These are the results in which their benefit and increase in dividend are once again announced. But outside the numbers, the subject managers also go on attacking Basques with different arguments.
Open is currently in the hands of the government, which can intervene in the so -called third phase to change the conditions set by the National Market and Competition Commission (CNMC), and the Executive Director has just issued unpublished public consultation, so that citizens, businesses and organizations can comment on the operation. Very criticized consultation in the financial and business sectors.
César gonzález-buenoExecutive Director Banco Sabadel said at a quarterly results at a press conference that the company would “respond to a public consultation formed by the government” and will do so with “elements of general interest”, which they consider to be in a fund. She will also make this decision through the board of directors and is now preparing a draft.
He did not want to reveal many arguments that the bank will transfer to the government, but some concepts glide over general interests. González-Bueno stressed that in addition to competition, surgery has an impact on SME financing, territorial balance, financial stability … At the same time, he said “The opinion of social agents is very obvious and is an item to be considered”.
In addition, the CEO has insisted on several messages that have already been transmitted in recent months. «There is an unanimous rejection of this operation. The main actors who are businessmen, especially from SMEs throughout Spain, were unambiguously against thinking that it was affecting future well -being, future financing and this influenced the general interest, “he said that they also opposed the unions.
In this sense, the CEO indicated that the fact that majority negative support must have to influence the final result “, which could be interpreted as a message to the government for their interference in the opa to take into account all these actors.
“Then there is another factor. He Bbva offered mainly in shares; The BBVA shares of 29. April, when this began, are the least revalued from all Spanish banks. If we include a dividend distribution, the BBVA had an average of 23%revaluation and the European banks 38%on average. Average of Spanish banks 54% (Caixabank, Bankinter and Unicaja). And Sabadell 60%, “he said.
González-Well added the latter, “it means that the currency to pay Sabadell shareholders (mainly in shares) lost a lot of value. An operation that has a majority and unanimous rejection, which is an invaluable operation that seems not to make much sense.”
Merger with Mediana Bank
Banko Sabadell slipped the possibility of finding fusion with another middle entity overlooking the future if they manage to leak opa. Now González-Will is clear about this matter that it does not see that it is possible.
González-Bueno recalled that in the bank, which below, in the size of Caixabank, Santander and BBVa in the bank, she financially meant greater consolidation. However, he stressed that although “every bank is always open” for exploring options, now you “do not see the time or opportunity for such surgery. I do not currently see the significant likelihood of any corporate movement of any bank in Spain.”
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