Aragonés and the head of the BBVA meet at the Palau de la Generalitat

Aragonés and the head of the BBVA meet at the Palau de la Generalitat

Acting Prime Minister of the General Government, Peter AragonesChairman of BBVA, Carlos TorresIt met this afternoon at the Palau de la Generalitat, according to confirmed sources at ACN, which declined to comment on the content of the meeting because it was of a private nature.

The meeting coincides with the beginning of the OPA process submitted by the Basque entity to Banco Sabadell and which has drawn the rejection of President Aragonés himself and the government, as well as a large part of the Catalan business community. In fact, BBVA formalized the hostile takeover before the CNMV with an explanatory brochure in which the Basque entity confirmed its plans. The regulatory body now has seven days, extendable to accept the measure.

On the other hand, in the midst of this process, last week the credit rating agency Fitch improved the long-term rating of Banco Sabadell and changed the outlook of the entity, which moved from positive to stable. At the same time, it raised its short-term credit rating from F3 to F2.

Fitch’s upgrade reflected “structural progress” in the profitability and solvency of the Catalan bank, which “benefited” from restructuring plans, higher interest rates and better performance from the UK subsidiary.

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