The Minister of Economy and Finance of the Generalitat, Nat├ália Mas, has expressed the Government’s “total” opposition to the hostile takeover bid (OPA) launched by BBVA for 100% of Banco Sabadell, as she already stated before the merger proposal proposed by the entity to the bank of Catalan origin.

In an interview this Thursday in Catalunya Informaci├│ collected by Europa Press, he argued that the movement would mean harm to competition, jobs and the financial ecosystem of Catalonia that citizens would end up “paying for”.

Mas has indicated that in the last 10 or 15 years there is no precedent for a takeover bid for a financial entity and has indicated that now it will be necessary to see the reaction of Sabadell’s shareholders, which he sees as “very fragmented.”

Likewise, he stated that the entity of Catalan origin is a “robust bank, with important results and that can have a successful trajectory in the future alone”, something that he believes shareholders will also value.

He also predicted that the takeover bid will not end up taking place: “I think we will not get here. I think this operation can be stopped. And, therefore, also this impact on jobs.”