Say Hello to My Little Bank: BBVA's Hostile Takeover of Sabadell and the Spanish Government's Headache

First You Get the Money Then You Get the Power Then You Get the Bank!

Alright listen up you punks. Tony Montana's got a scoop for ya. BBVA this big shot bank in Spain they wanna swallow up Banco Sabadell. Twelve billion euros they're talkin' like it's nothin'. Hostile takeover they call it. Sounds like a damn good movie right? But the Spanish government they're not too happy about it. They're gonna be all over this thing like white on rice makin' sure BBVA ain't pullin' a fast one. Me? I just wanna know where my cut is. Time to make some money!

The Competition Watchdog: "No Problem Mon!"

So this CNMC the competition watchdog they're supposed to keep things fair you know? They're lookin' at this deal and they say 'Okay BBVA you can do it but you gotta play nice.' They want BBVA to promise they won't screw over the little guys the retail customers and the SME's. Financial inclusion territorial cohesion credit for SMEs—what is this kindergarten? I had to fight for everything I got! But hey if it keeps the heat off so be it. But this methodology of theirs I'm tellin' ya...they are playin with it!

Sabadell's Not Going Down Without a Fight Ese!

Sabadell they ain't takin' this lying down. They're yellin' that the CNMC's numbers are bogus that they don't understand how this whole thing is gonna screw over small businesses and customers. But let's be honest in this world you're either swimming or you're sinking and Sabadell looks like they're about to take a long swim with the fishes...capiche?

Market Share Motherf***er! Do You Speak It?!

So here's the deal: if BBVA gets Sabadell they're gonna control over 30% of the retail banking market. That's a lot of friggin' power! The CNMC is making them sell off parts of their payment processing companies—Redsys Sistema de Tarjetas y Medios de Pago Bizum Servired—whatever the hell those are. Sounds like a good way to hide some money if you ask me. I need to learn these names.

No Branches Closing Within 300 Meters? What is This Amateur Hour?

BBVA they're makin' promises. No closing branches in poor neighborhoods no leavin' towns with few competitors. And they're gonna keep working capital lines open for Sabadell's SME clients. Sounds real nice right? Like they’re doing a charity or something. But I'm telling you there's always a catch. Always a catch just you wait. I know these guys.

The Government's Last Stand: The 'Phase 3 Review,' No Problem Mon!

So the government can't stop the deal but they can make life real difficult. They got 15 days to take it to a cabinet meeting then a month to oppose it—they call it a 'phase 3 review.' Sounds like a damn bureaucratic nightmare. But hey if I was the government I'd be all over this thing too. Too much power in one place is never a good thing. And BBVA is starting to look like a king...