The Catalan entity states that BBVA provided details during a press conference that were not included in the offer, and therefore communicates to the CNMV that the operation is contrary to the law.
Sabadell Bank has accused BBVA of it violate the takeover regime with its hostile takeover offer and introduction incomplete data” that could affect the market, as reported to the National Securities Market Commission (CNMV).
In a short statement, the Catalan bank assures that “documentation not included in the advertisement” and that the information provided at the said meeting “contravenes Article 32.1 of Royal Decree 1066/2007 of 27 July on the regime of public offers for the acquisition of securities and, in general, introduces incomplete data that could to influence”.
It also refers to the presentation broadcast in English about the operation, at one o’clock press release Yet the conference held with analysts and investors, during which a question period was then opened.
This is how Banco Sabadell did it transferred to the CNMV of this circumstance so that the market has “complete and transparent” information and an “orderly and correct” process is guaranteed.
Source: EITB
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