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Bond Market News
BBVA Gets Mexican Regulators’ Approval on Acquisition Bid for Sabadell
December 24, 2024
BBVA received authorization from Mexico’s antitrust regulators for its planned acquisition of Banco Sabadell. The Mexican Federal Economic Competition Commission determined that the deal poses no risk to competition in Mexico’s banking sector. BBVA, Spain’s second-largest bank, previously obtained approvals from the UK’s Prudential Regulation Authority and the ECB. However, it is still awaiting clearance from Spain’s National Securities Market Commission and the National Commission of Markets and Competition. These pending approvals have delayed BBVA’s progress in completing its May offer to acquire its Spanish rival for $13.4bn.
BBVA’s 6.5% Perp traded stable at 100.1 cents on the dollar, yielding 5.96%.
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