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Óscar Bartual Bardisa
Alicante
Jueves, 2 de enero 2025, 07:20
BBVA and Banco Sabadell are embroiled in a dispute over the takeover bid launched by the former to absorb the latter, which is headquartered in Alicante. Various sectors in the Valencian Community, from business leaders to municipal, provincial, and regional political spheres, have expressed opposition to this merger.
The battle over the takeover bid has already traversed politics and economics and has now moved into everyday life, into advertising, where both banks strive to persuade their clients and those of the opposing bank of their stance on the Sabadell acquisition.
Since the National Commission on Markets and Competition (CNMC) approved the takeover bid, Banco Sabadell launched a campaign plastering the surroundings of its headquarters in Madrid, as well as its building in Alicante, with a large black banner bearing the slogan 'The power to choose is your power', a black and white campaign aimed at opposing BBVA's purchase.
The facade is thus covered with this campaign, which contrasts with BBVA's more conciliatory tone, inviting Sabadell shareholders, who will have the final say on the merger, to reflect on the 'advantages' this union will bring, creating a financial giant.
In its 'The power to choose is your power', Sabadell accompanies this phrase with various data reinforcing its position against the takeover bid. On the facade of its Alicante headquarters, the bank argues for choosing 'the bank with which three out of five companies in the Valencian Community work'.
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Óscar Bartual Bardisa/EP
However, this is not the only argument presented by Sabadell. The bank argues in its campaign that 'companies need to work with an average of three different banks to operate and continue growing', emphasizing that this decision is 'vital' for SMEs.
Among other arguments presented by Sabadell are its financing for startups and its Point of Sale Terminal (POS) services, boasting that it manages 20% of Spain's businesses.
On the other side of the equation is BBVA, which adopts a more amiable tone. Its campaign 'From: BBVA Shareholders. To: Banco Sabadell Shareholders. Subject: How could our new bank be?' simulates a conversation between clients of both banks, aiming to persuade Sabadell's to support the takeover bid.
A publicity campaign that has appeared on television, social media, and even bus stops. With real shareholders from both banks, BBVA aims to appeal to dialogue and thus demonstrate the strength of the banking giant that would result from the merger, forming the second-largest financial force in Spain and one of the top ten in Europe.
Indeed, the muscle of this financial giant is one of the most frequently used arguments by shareholders, who argue it would have over 100 million clients worldwide and nearly 7,000 branches.
The battle over the takeover bid has taken on various tones and has already moved into the advertising field, though it does not leave aside the political or economic debate, which would have a negative impact on the province of Alicante and the Valencian Community if it goes ahead.
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