The analysis of the National Commission of Markets and Competition (CNMC) Follow its course in a second phase. De facto, according to the expansion newspaper, The agency already has prepared the final report on the operation in which he only needs to include some valuations and in it there are no major changes, given this second phase in which he is immersed.
And everything points, according to the medium, that this document on the hostile OPA presented by BBVA on Banco Sabadell will have the approval of the commission, which will include commitments that may well include the demand for competition.
Thus, the CNMC included the commitments proposed by BBVA in the market test that began on April 3, according to Expansión. Thus he transferred a questionnaire to all parties potentially affected by the operation (other banking entities, consumer organizations, bank employers, …) To know if they would see their position damaged in the market or affect the union between banks with the commitments assumed by BBVA.
Of moment seems that the CNMC has failed to collect all the positions on those premises, in which BBVA was purchasedMakes to keep Sabadell’s offices in its entirety and access to their ATMs in the case of little populated locations where they are located. And also in those areas where there is low competition or low rent for at least 3 years.
It seems that everything will be ready in the next week, So in May the final decision could be known.
At the moment the investors remain alert because a good part of the market considers that, despite the steps ahead, Without improving BBVA’s offer on Sabadell, the operation cannot be carried out with the approval of the entity’s shareholders.
So far this year, the actions of Sabadell are the second in the revaluation ranking after Indra, with accumulated increases that touch 40% Faced with almost 31% that elevates their BBVA profits in what we have been in 2025, beating a Ibex 35 that is already revalued in double digit.
Despite the market situation, from Reuters they consider that the actions of BBVA are still a purchase with an objective price of 12.63 euros per share and average potential that touches 6%.
In the case of Sabadell, its average potential is 3.19% with PO of 2.59 euros per share and average recommendation of purchase of analysts.