Foment del Treball has warned this morning in a statement of the risk for Catalan SMEs if BBVA’s hostile takeover bid for Banc Sabadell succeeds. “If it prospers, the big losers will be the Catalan SMEs and, therefore, also the Spanish companies,” he assured.
The employers’ association chaired by Josep Sánchez Llibre affirms that, if the bank chaired by Josep Oliu disappears, “many SMEs will be left without financing.” In this sense, the business organization points out that “growth due to financial concentrations should be done in Europe and not in Spain.”
For its part, Pimec has frontally rejected the hostile takeover of Banc Sabadell, both in form and substance, and has warned of the serious consequences it could have for micro, small and medium-sized companies. “SMEs are the most affected by this operation, which represents an increase in the level of concentration and will result in greater difficulty in accessing financing,” stated the president of the association, Antoni Cañete.
The employers’ association has indicated that this type of operations contrary to the interests of SMEs are also harmful to the entire financial system. In this sense, Cañete has defended that “we need solid financial entities and the hostile takeover not only reduces the current market supply, it also puts the country’s financial stability at risk.”
