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May 9, 2024
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the deal with the two businesses makes sense to bbva and it is an attractive deal. we heard from the ceo yesterday who said there are challenges to domestic consolidation in the banking sector >> this is difficult to make a friendly transaction if you are in a position to be a 50 million euro market cap. this kind of transaction usually goes through a tender offer and probably more style than friendly that is how you do a deal. that is the reason p why it is o easy to do a consolidation this is something that is not so easy to do that's also what you have to remember at this point there is no bank at 10 billion market cap just because you are giving a premium of 30%. the approach in the domestic consolidation is something that all investors remember in the domestic market. >> we have been covering this story all week long. bbva shares are down 5.5% on the news i spoke with the equity analyst for european banks at morning star and asked him for his thoughts on the proposed deal. >> we look at it from the bbva perspective. we thought it made a lot of strategic sense,
the deal with the two businesses makes sense to bbva and it is an attractive deal. we heard from the ceo yesterday who said there are challenges to domestic consolidation in the banking sector >> this is difficult to make a friendly transaction if you are in a position to be a 50 million euro market cap. this kind of transaction usually goes through a tender offer and probably more style than friendly that is how you do a deal. that is the reason p why it is o easy to do a consolidation...
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May 10, 2024
05/24
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sabadell says the bbva rules has produced incomplete information. this is the first hostile takeover bid since the 1980s and comes after the sabadell board said it under valued the prospects. shareholders are interested in the offer. >> our team has had contact with many of those shareholders and some of them have reached out to us with a clear expression of favorable views on the transaction. again, they will have to make their decisions in due time. it will be in a few months when the acceptance tender happens. we have received interest and some shareholders are quite important at the table with the favorable opinion on the transaction. >> speaking to cnbc earlier today, the spanish economic minister expressed concerns of the proposed merger. >> we feel the hostile bid is having an impact in terms of increased uncertainty and volatility in the market and secondary impacts of increased concentration in an already highly concentrated market with the detrimental effects with the consumer welfare and also having a step back in the financial agenda whi
sabadell says the bbva rules has produced incomplete information. this is the first hostile takeover bid since the 1980s and comes after the sabadell board said it under valued the prospects. shareholders are interested in the offer. >> our team has had contact with many of those shareholders and some of them have reached out to us with a clear expression of favorable views on the transaction. again, they will have to make their decisions in due time. it will be in a few months when the...
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May 10, 2024
05/24
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BLOOMBERG
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bbva seems to suggest they have got some important shareholders backing the bid. sabadell came yesterday also with a statement saying that bbva's move is breaching the laws, the takeover laws in spain in the way they have presented documentation. so, it is a little bit unclear. it's all up in the air as of now. but now is when it becomes really all about m&a tactics and the next moves will be critical for sure. lizzy: all right, our deals reporter, we thank for staying across that bid of m&a potentially in a spanish making. we brought you the latest tsmc sales, a 60% jump in april driven by ai. we can continue with that ai theme because the ceo of arm is downplaying concerns over and ai spending slowdown. that was fueled by his lukewarm revenue forecast for the fiscal year. he told us what he is still confident in the chip designer's long-term growth. >> we are actually forecasting even higher growth this year, north of 20%, and we also signaled to the markets yesterday that in a 25, 26, 27, we see that growth continuing. we have incredible visibility to our busin
bbva seems to suggest they have got some important shareholders backing the bid. sabadell came yesterday also with a statement saying that bbva's move is breaching the laws, the takeover laws in spain in the way they have presented documentation. so, it is a little bit unclear. it's all up in the air as of now. but now is when it becomes really all about m&a tactics and the next moves will be critical for sure. lizzy: all right, our deals reporter, we thank for staying across that bid of...
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May 7, 2024
05/24
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in the sense that bbva led in terms of market share of santander, they possibly are hoping that bbva will come to the table with the higher offer. >> i want to talk about another bank story today. unicredit. stocks are moving higher on the earnings beat and a raise when it comes to guidance. we saw ct-1 capital better than expected. within the report, they cited better fees and commission. is that a read to the enter european banking center? we see a better situation with commissions and credit and also trades. >> yes, i think it's something we have seen with the results as well as net interest income holding upper than expected. i think the banks was using all of the yield curve and expectations for rates to remain higher for slightly longer. that's been positive, i believe, for nii. i think also the liability management side of the banks have been good. they are hedging in higher interest rates which is beneficial over the longer term for the banks. i think especially for the italian banks, unicredit reported stronger than expected fee income dprgrowth. >> i want to point out to a
in the sense that bbva led in terms of market share of santander, they possibly are hoping that bbva will come to the table with the higher offer. >> i want to talk about another bank story today. unicredit. stocks are moving higher on the earnings beat and a raise when it comes to guidance. we saw ct-1 capital better than expected. within the report, they cited better fees and commission. is that a read to the enter european banking center? we see a better situation with commissions and...
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May 2, 2024
05/24
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euro area according to bbva. this proposal comes nearly four years after previous talks between the two lenders collapsed. you see sabadell shares up 6%. bbva falling 2%. >>> coming up on the show, the volatile trade for the japanese yen today. we'll breakdown the details coming up right after this break. psoriasis all over. i couldn't get my hair done. then psoriatic arthritis. cosentyx works on both for me. people with psoriasis on the scalp have a 4 times higher risk for psoriatic arthritis. serious allergic reactions, severe skin reactions that look like eczema, and an increased risk of infections, some fatal, have occurred. tell your doctor if you have an infection or symptoms, had a vaccine or plan to, or if ibd symptoms develop or worsen. still workin' for me. ♪see me.♪ >>> welcome back to "street signs. the yen has been volatile overnight. we have jp ong with more >> reporter: good morning, frank. the question in asia is what people are calling yentervention. when you look at the moves and the strengt
euro area according to bbva. this proposal comes nearly four years after previous talks between the two lenders collapsed. you see sabadell shares up 6%. bbva falling 2%. >>> coming up on the show, the volatile trade for the japanese yen today. we'll breakdown the details coming up right after this break. psoriasis all over. i couldn't get my hair done. then psoriatic arthritis. cosentyx works on both for me. people with psoriasis on the scalp have a 4 times higher risk for psoriatic...
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May 27, 2024
05/24
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. >>> and the bbva is looking to takeover the sabadell. this kicks off the bbva bid. bbva went straight to shareholders after sabadel l rejected the initial offer >>> and a chorus of ecb speakers are paving the way for the first rate cut next week speaking with the financial times, the chief economist philip lane said barring any issues, they would remove the top level of restrictions. those comments were echoed by other board members over the weekend as they expressed confidence over easing monetary policy ahead of the mostmentous week nx week, yields are tapped higher not a lot of movement this morning or this week i assume traders will sit on their hands. the 10-year yield at 3.35. very much range bound for this year that is a good word to use for the fx markets we are seeing the dollar lower against the euro at 108.48 no major impact from the ifo business index sterling and dollar changing at 127.42 we're seeing the dollar and the swiss at 91.45 >>> it has been a big week in the cryptocurrency markets i want to show you ether up 1.8% on the day bitcoin is down at
. >>> and the bbva is looking to takeover the sabadell. this kicks off the bbva bid. bbva went straight to shareholders after sabadel l rejected the initial offer >>> and a chorus of ecb speakers are paving the way for the first rate cut next week speaking with the financial times, the chief economist philip lane said barring any issues, they would remove the top level of restrictions. those comments were echoed by other board members over the weekend as they expressed...
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May 9, 2024
05/24
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bbva seeing a 0.85 billion synergy story over three years in the deal. i will bring you the top lines that crossed at the start. around six: 12 u.k. time. all share offer. we are waiting for the response to this. there's been too and fro between the companies. this could be the first significant consolidation in spain that we've seen in a while. again, they see the deal potentially accretive after one year. we continue to monitor the story for you of course throughout the next few hours. coming up, the bank of england decides, will today's announcement be the last told before a cut? we discussed that with jackie bow. what to watch for from the statement and what we hear from the boe governor as well. we will be sitting down with him. stay with us. this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe. markets are expecting the boe to keep rate cuts at their highest level in 16 years when it announces its policy decision today. the language and statement will be in focus. maybe a dovish tilt. jackie dowie joins us now for the details in t
bbva seeing a 0.85 billion synergy story over three years in the deal. i will bring you the top lines that crossed at the start. around six: 12 u.k. time. all share offer. we are waiting for the response to this. there's been too and fro between the companies. this could be the first significant consolidation in spain that we've seen in a while. again, they see the deal potentially accretive after one year. we continue to monitor the story for you of course throughout the next few hours. coming...
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May 9, 2024
05/24
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the offer significantly undervalues the potential and growth prospects while bbva says it would create a bank with greater scale. >>> coming up on "worldwide exchange," the one word every investor needs to know today and the mega-cap tech stock high on our guest's shopping list after a market beatdown. we'll be right back after this break. because sometimes the best road forward, is the one you didn't expect. (♪♪) a slow network is no network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! >>> welcome back to "worldwide exchange." time for the "wex wrap-up. we start with house speaker mike johnson to defeat marjorie taylor greene to oust
the offer significantly undervalues the potential and growth prospects while bbva says it would create a bank with greater scale. >>> coming up on "worldwide exchange," the one word every investor needs to know today and the mega-cap tech stock high on our guest's shopping list after a market beatdown. we'll be right back after this break. because sometimes the best road forward, is the one you didn't expect. (♪♪) a slow network is no network for business. that's why more...
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May 8, 2024
05/24
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. >>> we're going to move over to the banking sector there has been an email sent by bbva chairman. bbva's chairman told sabado that the share as of theed by was made show there was no further upside. >>> we were told there are challenges to the consolidation in the banking sector. >> it's difficult to make a friendly transaction if you're in a position to be in a 50, 60 billions market cap. this kind of transaction usually go through a tender offer and probably moral style and then friendly so that's the way in which today you can do a deal. that is why it is not easy to do in a domestic sector to do consolidation, bus to go like that is something that it is not so easy to do. so that's also something you have to remember at this point there's not an attitude of a bank at 10 billion market cap to become part of a group just because you are giving a premium of 30% so the kind of approach is something that all the investors have to remember in talking about consolidation in the domestic market. >>> and coming up on this show, falling margins put pressure on bmw's bottom line. we'll d
. >>> we're going to move over to the banking sector there has been an email sent by bbva chairman. bbva's chairman told sabado that the share as of theed by was made show there was no further upside. >>> we were told there are challenges to the consolidation in the banking sector. >> it's difficult to make a friendly transaction if you're in a position to be in a 50, 60 billions market cap. this kind of transaction usually go through a tender offer and probably moral...
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May 13, 2024
05/24
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vamos con las acciones en el estadio bbva. atención a los 26. luego del palo, tras el tiro libre, la pelota. luego del rebote, le iba a quedar a 1 que no perdona. andré pierre gignac. y atención que con este gol la eliminación se empataba 1 a 1. gignac como siempre, pues infalible el galo. y así celebraba la afición de tigres. pero atención que en el complemento los 59 cortizo primero no se atrevía, pero luego el remate de canales que fue al palo él mismo la mandaba a guardar y era el gol. que sí, que le da la clasificación al equipo del tano ortiz a la semifinales trasciende rayados en el clásico regio, con un global de 2 a 1 ante tigres y en la otra llave de cuartos de final. cruz azul aseguró su clasificación al empatar 2 a 2 en el estadio azul ante pumas, que dio batalla al adelantarse en 2 ocasiones con los tantos de ayala y huerta. pero la máquina que había ganado entre semana en el universitario aseguró el pase con los goles de gutiérrez y 1 de barelli en el agregado para llevarse la eliminatoria con un 4 por 2. global y
vamos con las acciones en el estadio bbva. atención a los 26. luego del palo, tras el tiro libre, la pelota. luego del rebote, le iba a quedar a 1 que no perdona. andré pierre gignac. y atención que con este gol la eliminación se empataba 1 a 1. gignac como siempre, pues infalible el galo. y así celebraba la afición de tigres. pero atención que en el complemento los 59 cortizo primero no se atrevía, pero luego el remate de canales que fue al palo él mismo la mandaba a guardar y era el...
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May 22, 2024
05/24
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bloomberg learned bbva has hired a public relations firm to help it overcome the spanish government opposition to its hostile bid. the bank has tasked the company with swaying public opinion in favor of the takeover. staying in the banking space, barclays is set to be weighing whether some workers attend company offices five days a week. this as u.s. brokerage regulators adapt new rules for supervising work at home. discussions have advanced enough that some managers of started warning employees to prepare to commute daily. there is plenty more coming up. i will do a preview and a deep dive on the nvidia story. stay with us. this is bloomberg. ♪ >> everybody complains about meetings but what one should complain about is not being prepared for meetings, not paying attention and meetings and not knowing what happened in meetings. it meetings copilot helps keep it front and center for an organization. all of the future we are launching is really a thing called team copilot. it will be in the meeting and everywhere your team is working on. this team copilot will help you in all your teammates. i
bloomberg learned bbva has hired a public relations firm to help it overcome the spanish government opposition to its hostile bid. the bank has tasked the company with swaying public opinion in favor of the takeover. staying in the banking space, barclays is set to be weighing whether some workers attend company offices five days a week. this as u.s. brokerage regulators adapt new rules for supervising work at home. discussions have advanced enough that some managers of started warning...