The Minister of Transport and Sustainable Mobility, ├ôscar Puente, has warned that the Government will do “whatever is in its power” so that the hostile takeover launched by BBVA to Banco Sabadell does not go ahead, since the Executive “is not a supporter” of said operation.

This is how the minister expressed himself this Friday in statements to the media in Alicante, before holding a meeting with the mayor of the city, Luis Barcala, when asked by journalists about BBVA’s hostile takeover bid for Sabadell.

In this regard, Puente has referred to the statements of the Minister of Economy, Commerce and Business, Carlos Body, and has maintained that the Government’s position is “clear.” “We do not see this operation as necessary or useful, and we believe that it does not contribute to improving the situation of the banking market in Spain, which is very important, because it affects issues that are central to people’s lives.”

“Therefore, the Government’s position is that it is not in favor of this takeover bid and is going to do everything in its power to ensure that it is not carried out,” Puente concluded.