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CNMV processing BBVA's takeover bid for Sabadell: What should investors do?

Published 06/11/2024, 04:55 PM
© Reuters

Investing.com - The National Securities Market Commission (CNMV) has today admitted for processing the public takeover offer launched by BBVA (BME: BME:BBVA) for Banco Sabadell (BME: SABE).

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"A new step is thus taken in the processing of the offer in accordance with the regulations governing all these processes," the CNMV said in a statement.

According to the aforementioned regulations, after studying the documentation provided or requested from the bidder, the CNMV will decide on the authorization of the offer following the deadlines and requirements set out in Article 21 of Royal Decree 1066/2007, of July 27, on the regime of public offers for the acquisition of securities.

"The procedure will also be influenced by what is established in Article 26 of the aforementioned regulation regarding authorizations required by other supervisory bodies and by competition authorities," the statement said.

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