Spanish lender temporarily halts share buyback program
- Sabadell suspends buybacks after BBVA takeover approach
- Spanish market regulator requests suspension of buyback program
- BBVA made a hostile takeover offer for Sabadell
- Buyback program valued at $366.8 million
- Sabadell bought back 27% of maximum amount
Banco de Sabadell has temporarily suspended its share buyback program at the request of the Spanish market regulator. This comes after Banco Bilbao Vizcaya Argentaria (BBVA) made a hostile takeover offer for Sabadell, valuing the bank at $12.39 billion. The buyback program, which was launched last month, had a value of $366.8 million. As of May 8, Sabadell had bought back 27% of the maximum amount.
Factuality Level: 3
Factuality Justification: The article provides relevant information about Banco de Sabadell suspending its share buyback program at the request of the Spanish market regulator due to a hostile takeover approach by Banco Bilbao Vizcaya Argentaria. However, the article lacks depth and context, and it contains unnecessary details about the buyback program that do not significantly contribute to the main topic.
Noise Level: 2
Noise Justification: The article provides relevant information about Banco de Sabadell suspending its share buyback program at the request of the Spanish market regulator due to a hostile takeover approach by Banco Bilbao Vizcaya Argentaria. It includes details about the valuation and the progress of the buyback program.
Financial Relevance: Yes
Financial Markets Impacted: Spanish market regulator, Banco de Sabadell, Banco Bilbao Vizcaya Argentaria (BBVA)
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the suspension of Banco de Sabadell’s share buyback program at the request of the Spanish market regulator following a hostile takeover approach by Banco Bilbao Vizcaya Argentaria (BBVA). There is no mention of an extreme event.
Public Companies: Banco de Sabadell (SAB), Banco Bilbao Vizcaya Argentaria (BBVA)
Key People:
Reported publicly:
www.marketwatch.com 
