Sabadell says it will lose jobs and business due to takeover bid

The war between Banco Sabadell and BBVA is far from over. The organization, led by Josep Oliu, issued a strong statement in which it assured that if it were captured, it could cause serious problems for its business. In fact, the document includes a takeover bid as one of the strategic risks to consider.

Thus, Sabadell assures that if the proposal is accepted, Sabadell may lose his job and face difficulties in his business activities. The business could potentially lose skilled staff “to other professional opportunities, given the risk of job losses if the takeover bid is successful,” he explains.

Also in the universal registration document sent to the National Securities Market Commission (CNMV), the bank emphasizes that this could lead to “loss of business opportunities.” Likewise, the Catalan enterprise reiterates that the rejection of the offer was because it understood that it significantly undervalued the Banco Sabadell project and its growth prospects as an independent enterprise and that it did not satisfy the interests of Banco Sabadell and its shareholders.

“It is currently impossible to predict the duration of the regulatory review process and OPA approval by the CNMV (although BBVA has estimated the duration of the OPA to be between 6 and 8 months), as well as the final outcome. if approved, it is possible,” the company continued.