BarcelonaThe BBVA’s OPA in Sabadell begins to look like the old natural gas (today Naturgy) launched in 2005 in Endesa. After an offensive led by the PP government, the operation derailed and La Caixa, the main shareholder of Gas Natural, finished sponsoring the Spanish football team. Had exceeded the danger to catalyze an endesa that in the end ended in Italian hands (ENEL).
Today, after digesting the limitations imposed by the Spanish government, such as the impossibility of a merger for three years, the BBVA announces that it maintains a project against which they are from the Spanish and Catalan governments to the business and economic world of the Principality. One, due to the loss of the only big bank based in Catalonia-returned it a few months ago in full swing by the OPA-and two, to reduce a more market that tends to the oligopoly.
The next movement of the Sabadell may be to sell its British subsidiary, TSB, and promise to distribute more benefits to shareholders. But the Basque bank replicates because he may think he can convince them, who knows if improving his offer. They all play the serves cards and in a while we will see if anyone goes from lighthouse.
