Sabadell tells shareholders that BBVA bid process may last until 2025

MADRID, May 28 (Reuters) – Spanish lender Sabadell (SABE.MC), opens new tab is telling retail shareholders that they may have until 2025 before deciding on BBVA’s (BBVA.MC), opens new tab 12.23 billion euro ($13.3 billion) hostile takeover attempt, as it seeks to stave off the bid.

In a letter being sent to Sabadell’s shareholders this week, Sabadell chairman Josep Oliu said investors do not have to take any decisions at this stage, “as the takeover bid process may continue until the end of 2024, or even 2025”.