June 14th, 2024 | 6:41

Bilbao

Sabadell's main individual shareholder supports BBVA's takeover bid

Jesus Carames

May 17, 2024 | 8:39 p.m.

David Martínez, Sabadell's main individual shareholder, has decided to support the hostile takeover bid (OPA) launched by BBVA. This decision, published by Bloomberg, marks a significant turning point in BBVA's attempt to gain control of Sabadell.

David Martínez, well-known investor and businessman, controls 3,495% of Sabadell's capital and is the only proprietary director who sits on the bank's highest governing body. His support for the takeover represents BBVA's first major victory among Sabadell shareholders, which could tip the balance in favor of the purchasing bank.

David Martínez: Sabadell's star investor who could be key in BBVA's takeover bid

David Martínez is not just any character in the world of finance. His career as an investor has been outstanding, and his influence in Sabadell is undeniable. Controlling a significant portion of Sabadell's capital, his support for BBVA's takeover bid is a masterstroke that could change the course of this operation.

Martínez has been a key figure within Sabadell's board of directors, actively participating in the bank's strategic decisions. His endorsement of BBVA's offer not only adds weight to the proposal, but could also influence other shareholders to seriously consider the competing bank's offer.

González-Bueno and Carlos Torres: A confrontation for the future of Sabadell

The takeover bid has triggered a scuffle between César González-Bueno, CEO of Sabadell, and Carlos Torres, president of BBVA. This confrontation not only highlights the strategic differences between both leaders, but also reflects the intensity of the battle for control of Sabadell.

González-Bueno has defended Sabadell's independence, arguing that the bank has the ability to prosper without needing to be absorbed by BBVA. On the other hand, Carlos Torres has highlighted the benefits of integration, suggesting that the combination of both banks could create a more robust and competitive financial entity at the European level.

The game of some political parties in the takeover bid for Sabadell

BBVA's takeover bid for Sabadell has also attracted the attention of certain political parties, which see this operation as an opportunity to influence the banking sector. Some parties have expressed support for Sabadell's independence, while others welcome the banking consolidation proposed by BBVA, arguing that it could strengthen the Spanish financial system.

Political influence in this operation is not a minor factor. The decisions made by the shareholders and managers of both banks will be, to a certain extent, conditioned by political pressures and expectations.

First battle won for BBVA against Sabadell

David Martínez's support for BBVA's takeover bid is an important milestone, but the path to integration is still full of uncertainties. Sabadell shareholders should carefully evaluate BBVA's offer, considering both the potential benefits and the associated risks.

BBVA, for its part, must continue working to convince other shareholders and demonstrate that the merger will be beneficial for all parties involved. The final decision will not only affect the two banks, but will also have significant repercussions on the Spanish and European banking landscape.

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