Finance
Sabadell Investor Martinez Supports BBVA’s Hostile Takeover Bid
- Businessman is Sabadell’s second-biggest shareholder
- ECB is supportive of tie-up too, Bloomberg has reported
A Banco de Sabadell branch in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Banco de Sabadell SA’s second-largest investor supports the hostile takeover proposal made by rival Banco Bilbao Vizcaya Argentaria SA, giving a boost to a bid that could transform Spanish banking.
Mexican billionaire David Martinez sees the offer as attractive, people familiar with the matter said who asked not to be identified. Martinez is a board member of Sabadell and holds about 3.5% of the company’s stock.