Feb 18 • 04:15 UTC 🇪🇸 Spain El País

BBVA allocated more than 1 billion to advertising during the two years of the takeover bid for Sabadell

BBVA spent over 1 billion euros on advertising during its failed takeover bid for Banco Sabadell.

BBVA, led by Carlos Torres, allocated significant resources to advertising in the years 2024 and 2025, amounting to over 1 billion euros as it attempted to take over Banco Sabadell. This ambitious takeover bid dominated the Spanish advertising market and involved diverse campaigns—ranging from aggressive to sentimental. The spending increase of 61% in 2025 compared to 2023 showcases the intense competition for shareholder approval during the bid. Despite this extensive marketing effort, BBVA's takeover bid ultimately failed in October 2023. The bank did not achieve the necessary support from Sabadell's shareholders, who did not grant BBVA the required 30% backing for the transaction. This outcome not only underscores the challenges of corporate takeovers in the banking sector but also highlights the financial implications of failed strategies in high-stakes corporate environments. The financial commitment towards advertising illustrates how companies often seek to enhance their visibility and engagement during critical negotiations. With such substantial investments in advertising, BBVA's experience serves as a cautionary tale about the costs associated with failed acquisition attempts in a competitive market. The striking figure of over 1 billion euros spent reflects the intersection of corporate ambition and the realities of market dynamics, emphasizing the importance of public perception in corporate strategies.

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