BPCE, white knight or Trojan horse in Sabadell
The French bank is the largest shareholder in the Spanish one, owner of the fourth bank in Portugal, and has aspirations to be big in Europe.
Banco Sabadell and Banque Populaire Caisse d'Epargne (BPCE) have reached an agreement where BPCE will acquire up to 9.9% of Sabadell, adding to its existing 7% stake. BPCE will also appoint a councillor. This move is being presented as a white knight investment, joining existing shareholders Zurich (5%) and Amundi (1.3%) to protect Sabadell's independence. Sabadell's independence was previously threatened by BBVA in 2020 and 2024.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
