MADRID/LONDON, May 29 (Reuters) – Spain’s Sabadell (SABE.MC), opens new tab is not planning to try and buy a competitor as part of a potential defence strategy against rival BBVA’s (BBVA.MC), opens new tab hostile takeover attempt, Chief Executive Officer Cesar Gonzalez-Bueno told Reuters.
Spain’s No. 2 lender BBVA this month stunned Spain by making the first hostile takeover attempt in Spanish banking since the 1980s, after Sabadell’s board rejected an initial bid on the grounds it significantly undervalued the lender.
Source: REUTER
