BBVA
Prosecutors seek 173 years in jail for Francisco González in Villarejo case
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Anti-corruption prosecutors have requested 173 years in prison for Francisco González, former BBVA president, and a 181.1 million euro fine for the bank over hiring ex-officer José Manuel Villarejo for spying from 2004 to 2016. The National Court approved the trial in February against González, BBVA, and others. Penalties stem from bribery and disclosure of secrets charges.
After the failure of BBVA's takeover bid (OPA) on Banco Sabadell, Sabadell shares fell 6.78% on Friday, losing over 1.1 billion euros in market value. In contrast, BBVA shares rose 5.9%, recovering 5.475 billion euros. The market rewarded BBVA for removing capital risks and announcing historic dividends.
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BBVA's hostile takeover bid (OPA) to absorb Banco Sabadell has failed after 17 months, securing only about 25% acceptance of the capital, below the 30% minimum threshold set. This marks the second failure for BBVA president Carlos Torres, following an unsuccessful attempt in 2020. Rejection from shareholders, regulators, and the Spanish government has shaped the outcome of this banking battle.