BBVA's Torres Pursues Sabadell Deal Amidst Renewed Challenges

BBVA SA Chairman Carlos Torres faces a pivotal decision as his five-year pursuit of Banco Sabadell SA approaches its climax. The success of the acquisition now hinges on a critical choice: either increase the bid or risk the deal's failure. This mirrors the very obstacle that thwarted his initial attempt. Since proposing the €15.5 billion takeover, Torres has shown unwavering determination in the face of significant challenges. These include protracted regulatory reviews and governmental opposition. Furthermore, BBVA has encountered a last-minute defensive tactic from Sabadell, which is attempting to impede the acquisition by divesting its UK unit. These elements are crucial to the ongoing effort to finalize this long-standing strategic objective for BBVA's leadership.