Sabadell minority shareholders urge to ‘resist and not sell’ BBVA

NEM Sabadell, the stable core of Banco Sabadell’s minority shareholders, calls on shareholders to “resist and not sell” the takeover proposal put forward by BBVA for the Alicante-based entity and assures that it agrees with the bank’s management and the President of the Generalitat in its opposition to the takeover.

This group declares that it agrees with the reasons for the rejection of the operation expressed by the President of Banco Sabadell, Josep Oliu, and the President of the Generalitat of Valencia, Carlos Mason, which are described in detail in various aspects.

The bank became a systemically important entity after the absorption of the old CAM. is experiencing “one of the best moments in its history, and it has no problems”and financial sources understand that the Valencian enterprise has “very great potential” and can continue alone, according to the arguments put forward by NAM Sabadell in a statement.

Minority group originating from AIVCAM, CAM depositors also refers to reasons of competition, personnel, branches and organizational structure as the bank “It will cease to be Valencian and Murcian, based in Alicante, and will become completely Basque, based in Bilbao.”.

He also hints at the importance of the social work of the former CAM, now the Fundación Mediterraneo, and suggests that volume of Valencian deposits be established in the Valencian Community and Murcia, and not in investments outside these territories.