From Sabadell to London via Santander

BarcelonaA new chapter in BBVA's takeover bid for Banc Sabadell. And the episode is being played out in the United Kingdom, where TSB, the British subsidiary of the Catalan financial institution, is located. And with a third protagonist, Santander, which takes advantage of the opportunity to strengthen its position in a market considered "safe," where it already has a significant presence. And in turn, it knocks one of its main competitors off their perch: BBVA once again shakes up a takeover bid that got off to a bad start more than a year ago. cash to further attract its shareholders and steer them away from the takeover bid. This is a new challenge for BBVA, which on Monday announced it was continuing the operation despite the merger restrictions imposed by the Spanish government and may have to improve its offer for a smaller entity—if its shareholders so decide—with the risk of not being able to add business in the United Kingdom, one of the incentives for reducing the weight of its activities in Mexico.