1349 GMT - BBVA is confident that the competition authorities will approve its bid for smaller peer Sabadell, which is currently under phase 2 review, the Spanish bank's CEO says at a London conference. "We are in the last stages of that process... Our best case scenario is that in the next few weeks we will have the conclusion of the final decision of the [Spanish competition regulator] CNMC," Onur Genc says. The bank submitted what the executive calls an unprecedented and powerful list of remedies around volumes and prices guarantees, among others, to the regulator to address the concerns that have been raised around the combination. BBVA is confident that it will get the green light from the regulator. "We have no doubt that Sabadell shareholders will find a better home in BBVA," he adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 09:49 ET (13:49 GMT)
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