Sabadell Wants Investors Backing BBVA Bid to Reveal Stake

Banco Sabadell SA called on Spain’s securities markets supervisor to impose more disclosure requirements on some investors who accept BBVA SA’s €16.8 billion ($19.7 billion) offer, saying that would help prevent “market manipulation.”

In a letter seen by Bloomberg News, Sabadell urged the regulator CNMV to force all institutional investors who say they back the bid to disclose their full stake in the bank. That’s because some investors may make that announcement “with the sole objective of dragging the rest of the shareholders along with their alleged decision,” it said.