NEM Sabadell, a stable core of minority shareholders of Banco Sabadell, calls on shareholders to “resist and not sell” in the takeover bid launched by BBVA for the entity based in Alicante, and assures that it agrees with the bank’s management and the president of the Generalitat Valenciana in its opposition to the absorption.
This group says they agree with the reasons expressed by the president of Banco Sabadell, Josep Oliu, and the president of the Generalitat Valenciana, Carlos Mazón, for rejecting the operation, which they detail in several aspects.
The bank, which became a systemic entity after absorbing the old CAM, is going through “one of the best moments in its history and has no problems,” and financial sources understand that the Valencian entity has “very great potential” and can continue alone, according to the arguments put forward by NEM Sabadell in a statement.
The group of minorities – derived from AIVCAM, depositors of the CAM – also refers to reasons of competition, staff and branches and organizational chart, since the bank “would cease to be Valencian and Murcian with headquarters in Alicante and would become totally Basque based in Bilbao”.
It also alludes to the importance of the social work of the former CAM, currently the Mediterranean Foundation, and proposes that the volume of Valencian deposits be set in the Valencian Community and Murcia and not in investments outside these territories.