The CNMV will announce the result of BBVA’s OPA to Sabadell on October 17

The National Securities Market Commission (CNMV) will communicate the result of the BBVA hostile OPA on the Sabadell Bank on October 17, then the stock market regulator will also announce the decisions derived from it. The agency announced this Wednesday in a statement where it also launches a notice to ‘navigators’: any statement on how the equitable price of a eventual second OPA of the BBVA will be determined before CNMV itself makes it known It should be considered a “mere speculation”so it will exercise its powers to protect investors and shareholders.

The supervisor of the Spanish markets has issued a communication to those that qualifies as “contradictory information about the next relative milestones” to the BVVA OPA by the Sabadell, whose acceptance period will be closed this Friday. That scenario would be given If the Basque Origin Bank achieved a percentage of between 30 and 50% And he was forced to launch a second offer.

If this happened, the Securities Market Commission has said that it would be the one that would announce the criteria for the determination of the equitable price, so that below that level the price set by the offeror could not be placed (in this case the BBVA).

For this reason, in the statement sent on Wednesday the agency led by Carlos San Basilio has warned that “any statement on the determination of the equitable price that is transferred to the market before the CNMV makes known those criteria It must be considered as mere speculation“

In addition, he has made it clear that, if necessary, he will exercise his supervisory and sanctioning powers, “with the priority objective of protecting investors and shareholders.”

BBVA and Banco Sabadell have maintained in public sound discrepancies about the price offered by the BBVA in case of having to formulate that second OPA, which would have to be in cash. At this point, while the bank chaired by Carlos Torres defends that it will be the same price as in the operation that is now in progress, the Vallelesan entity has pointed out that it will surely be superior.