The president of, is confident that the government reflects and takes into account “the damages” that, in his opinion, may have for the country the OPA. In an interview on TV3, OLIU valued the BBVA OPA to Sabadell, which has already obtained the approval of the (CNMC), with certain conditions, after which government has in the deadline until June 27 to decide whether it imposes additional requirements. “I trust that the government will make a reflection and take into account the situation: the good that you can have for the country, that I do not see it; and instead the damages that I may have to see them,” he said.
In the event that the OPA goes ahead, the National Securities Market Commission (CNMV) must still give the green light for the acceptance period to begin, which will last between 30 and 70 days, a window in which Sabadell’s shareholders should decide whether they accept the BBVA offer. Oliu warned in this sense of “the risks of the execution of an OPA with the rejection she has of everyone”, except for those who “consider it inevitable”, as if it were “the strength of destiny,” he ironized.
The president of Sabadell said that he sees “very difficult” that an operation that, in his opinion, “goes against customers.” ” [a la compra] It is bad for the shareholder; If a bad operation is done for customers, how can it be good for shareholders? If they do not like and leave, put in a management responsibility to the buyer part, ”he warned.
The banker stressed that the government “cannot prohibit anyone who bought anything,” but asked him to analyze the pros and cons, and “decide what seems to him.” In any case, he pointed out that his role will be to explain to the shareholders if it is good or not the OPA once he has the conditions of the government and the price marked by the BBVA. “We will explain to the shareholders that the Sabadell project will give them more performance and value than if they accept the OPA,” he concluded.
