A global bank, BBVA, with significant subsidiaries in Mexico and Turkey, wants to take control of a deeply rooted bank, Banc Sabadell. These are two very different business models. And a year after the takeover bid (OPA), which was described by the Catalan bank's board of directors as hostile, uncertainties remain. The market is betting that the group chaired by Carlos Torres Vila will ultimately improve the offer, even though he has publicly rejected it. In fact, he can't do anything else, since it's unlikely he'll announce it in advance.