However, the supervisor points out that this admission of the application to process the IPO request "does not imply any ruling on the resolution relating to the authorization of the offer, or any of its terms and conditions", which must be produced in accordance with the deadlines and other requirements estalished by the law.

The National Securities Market Commission (CNMV) agreed this Tuesday to accept for processing the hostile takeover request that BBVA has submitted for Banco Sabadell, as reported by the Catalan entity through a statement.

The CNMV points out that the prospectus and other documents presented by BBVA on May 24, and which were complemented with more information and modifications on June 4, "conform to the provisions" of article 17 of Royal Decree 1066/2007, of July 27.

However, the supervisor points out that this admission of the application for processing "does not imply any ruling on the resolution relating to the authorization of the offer, or any of its terms and conditions", which must be produced in accordance with the deadlines and other requirements established in article 21 of the Takeover Law.

The acquisition resulting from the offer is subject to the provisions of Law 10/2014, of June 26, on the organization, supervision and solvency of credit institutions and Royal Decree 84/2015, of February 13, which develops it.

Furthermore, the offer will not be authorized until it is confirmed that the European Central Bank (ECB) does not objected the operation.