BBVA

Santander and BBVA co-finance Netflix’s cash offer with 3.8 billion

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Santander and BBVA have doubled their financing to Netflix to $3.8 billion to support the acquisition of Warner Bros. for $27.75 per share in cash. The Spanish bank is thus positioned as a key actor in the most significant consolidation operation for the global audiovisual sector, in the midst of a battle to reconfigure the streaming market. How it works. The financial structure rests on a trio of international banks. Wells Fargo leads the credit union with the highest documented individual commitment for an investment grade acquisition, accompanied by the French BNP Paribas and the British HSBC. Between the three of them they have extended the initial bridge loan up to 42.2 billion dollars. What do the Spanish do? In this context, Santander commits to 2,672 million dollars divided into two blocks: 1,360 million in the bridge loan and 1,312 million in the long-term financing agreed in December. BBVA, for its part, offers 1,088 million: 510 million in the transitional loan and 578 million in the permanent lines. Other entities. Along with the Spanish entities, there are the French Société Générale, the German Commerzbank, the Canadians RBC, Banco de Montreal and Scotiabank, the Japanese Mizuho and MUFG, as well as Morgan Stanley, PNC Bank and Standard Chartered. The union brings together fifteen institutions that share the risk of an operation without comparable precedents in the recent history of the audiovisual industry. The Spanish participation, although secondary compared to Wells Fargo, BNP Paribas and HSBC, consolidates the presence of both entities in the corporate financing segment in the US. Seeking internationalization. The presence of Santander and BBVA in financing Netflix illustrates the internationalization strategy of both entities in large-scale operations linked to technology and media. For example, Santander announced in December 2025 a strategic alliance with MoffettNathanson to strengthen its sector analysis in technology, media and telecommunications (TMT) in the United States. and BBVA closed 2024 with record revenue of 3,194 million euros in the first half of 2025, driven by investment banking and corporate financing operations. All in cash. On January 20, Netflix modified the initial structure of its offer for the purchase, which combined money and shares of the platform. Now, Netflix values ​​the operation at 83,000 million dollars through an all-cash offer of $27.75 per share. Paramount, meanwhile, maintains a hostile offer of 108 billion dollars at $30 per share. Netflix wants exclusively the movie studios and HBO Max, excluding the cable TV business. This division will create an independent company, Discovery Global, which will be listed on the stock exchange and whose shares will be delivered to current Warner shareholders. When will we know something? Warner’s board of directors has rejected Paramount’s proposal eight times, calling it “insufficient value”. Netflix’s offer, on the other hand, has the unanimous support of Warner management. Shareholders must vote by April 2026, according to the accelerated schedule following the conversion of Netflix’s proposal to cash. In Xataka | All the unanswered questions left by Netflix’s purchase of Warner: a huge mess

BBVA wants to buy Sabadell for less than what is worth

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The CNMC He has given the green light to BBVA OPA on Banco Sabadell imposing commitments for three years, but the greatest obstacle is not regulatory but financial. The operation presents A mathematical paradox: BBVA offers much less than Sabadell’s actions are worth. The approval of the competition agency, far from clearing the way, has put on the table the contradictions of an operation that has been taking over more than a year and still having serious obstacles both financial and politicians. In figures. The Basque Bank proposes An exchange of one action for every 4.83 shares of Sabadellwhat each Catalan bank title values ​​in 2.39 euros, compared to 2.56 euros to which he quotes. This 7% negative differential is the main anomaly of this operation. There are hardly reasons for Sabadell shareholders to accept this proposal. Main loser? Sabadell small shareholders, which They represent almost 50% of the capitalThey have no incentives to accept an offer that would make them lose money regarding selling their shares directly in the market. This Atomized structure of the shareholders It is precisely one of the great challenges ahead of BBVA, which would need to convince thousands of retail investors to accept an operation that, at least in strictly economic terms, harms them. Between the lines. The 7% discount indicates that the market assigns a few probabilities of success to the operation. If investors believed that the OPA will prosper, the price of Sabadell would be converging towards BBVA’s offer, not moving away from it. Although BBVA tries to convey an optimistic narrative about the chances of success of its offer, that 7% gap transmits otherwise. Turning point. BBVA has repeated that its offer will not improve because doing it would harm its own shareholders. Its calculations indicate that it has up to 2.3 billion to improve the operation, but this would erode the profitability for its investors. The bank is at a crossroads: Or maintain its current offer assuming that you have little chances of prospering … … or the improvement at the cost of harming their own shareholders, which contradicts their duty as a quoted company. The backdrop. The government adds uncertainty to the process with The announcement of an unprecedented public consultation prior to its final decision. Pedro Sánchez has stressed that he will support the operation “as long as it benefits the common interest.” This consultation, unprecedented in operations of this caliberunderlines political reluctance towards a bank concentration that would further reduce competition in the sector and could have consequences in access to credit for individuals and SMEs. And now what. CNMV must now approve the OPA brochureprobably in early July, opening a 30 -day acceptance period that will partially coincide with August, month of low stock activity. This circumstance could lengthen the process until September, far beyond the original calendar that managed the BBVA. The calendar thus plays against an operation that accumulates both delays and uncertainty. Financial logic suggests that the operation is dedicated to failure if BBVA does not improve its offer, but doing it would harm its own shareholders. It is a dead end alley for one of the greatest business operations in Spanish banking. In Xataka | Revolution is doing in the bank the same as Netflix in entertainment or Amazon in retail: conquer from the margins Outstanding image | Joel Filipe in Unspash

Paying the reeds with Bizum on the TPV is already possible in Spain. BBVA is responsible

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BBVA will be the first bank of Spain to integrate Bizum As a payment method in TPV systems. Until now, the point of sale terminals served as an intermediary between physical trade and consumer credit/debit card. With the new BBVA integration, it will be possible to use these devices as applications generators. How will it work. Those shops attached to a Android TPV With the BBVA appolences, they will be able to send payment requests to customers on their mobile phones. Once this has provided the phone number to the trade and sent the application, the transaction can be completed in a simple way. The client will receive a notification on his phone to be able to pay immediately and the trade can confirm the status of the operation in real time. Not only will it serve to make the payment: returns can also be made by Bizum. Where will it work. Any business with an Android TPV running under the service of BBVA can use this system of payments and returns through Bizum. There are no public data about how many TPV they work adhered to BBVA in Spain, but we do know that this is the third Spanish bankadding more than eight million customers at the end of 2024. A dart for the rest of the banks. Bizum is the preferred method of Spaniards when making instant payments. So much that 95% of them are carried out through this service. That a business allows payments BBVA is away from the figures of Caixabank and Santander in number of clients, but this movement is a great incentive for small and large shops. The key will be how long the two great Spanish banks will take to follow their steps. Our privacy. A key point when integrating Bizum into the TPV is that, those businesses attached to this payment system must be rigorous with the General Data Protection Law (LGPD). The telephone number is considered personal data according to this regulation, and when introducing it to the TPV, it would be treatment of it. Only the number can be used to make the payment, being prohibited to perform any commercial treatment with it without prior consent. It must also be specially protected to avoid fraud and impersonation of identity. Bizum is no longer a tool among colleagues. Bizum was born in 2016 as A tool oriented to daily payments. In 2019, it began to open its doors to electronic shops, and 2025 is starting as one of its best years. At the beginning of the week we counted How is the pulse of the European Union winningmanaging to expand payments between borders. With integration in TPVS, in addition to web pages, Bizum becomes a complete alternative to card payment. Image | BBVA In Xataka | The BBVA will allow its customers to invest in bitcoin and other cryptocurrencies. But he doesn’t want to know anything about the matter

Operate with Bitcoin in banks like the BBVA is great except for one thing: the ball will always be on your roof

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The BBVA has just become the first large traditional bank in Allow your customers to operate with cryptocurrencies. I announced this week after receiving the so -called Mica license (Markets in Crypto Assets), the European regulation that It was approved in April 2023. This is apparently good news for the entity, customers and the world of cryptodivisas, but be careful. Buy Bitcoins as if they were actions. BBVA customers can now access the sale of cryptocurrencies such as Bitcoin or eth (Ethereum) directly from the same app that they already use to operate with their money and financial products. Everything is unified under the same interface, and the bank ensures custody of cryptographic keys to avoid any type of problem in that regard. But there are other potential problems. And very important. In Xataka Cryptocurrencies: What are they, how others work and also in addition to Bitcoin You stew it, you eat it. The BBVA makes clear In its official statement that “the bank will not carry out any advice work and can only be accessed to the service at the initiative of the client.” That is: customers may not receive advice on whether it is a good time to buy or sell or what budget to dedicate to it, for example. Throwing balls out. It is the client who will have all the responsibility on these operations, and here the bank simply throws balls out. The CEO of CaixaBank, Gonzalo Cortázar, also pointed the same as saying that “the Bitcoin It has volatility That we all know and other cryptocurrencies, too. It is difficult to advise on the fundamentals of Bitcoin. I would not know how to do it and our teams, at this time, either. “The entity at the moment does not offer the option to operate with cryptocurrencies, but does not rule out doing it in the future if their customers demand it. Mifid is not mica. As they point out In five daysthere is a board of the European Union called Mifid II which tries to protect investors in risk assets. To achieve this, use a simple and direct method: each client who wants to invest must fill in a questionnaire identifying their knowledge, their previous experience and its objectives with the investment. That allows from that data the entity can advise on these risk assets. Mica does not have that requirement for cryptocurrencies. But there will be notices. Even so, experts cited in five days highlight that theoretically many banks are working on including some type of knowledge evaluation. Thus, theoretically customers will see notices that will allow them Identify the risks of operating with cryptodivisas. BBVA has not confirmed whether they will adopt these processes. Mica 2 in view. Gloria Hernández Aller, co -founder partner of FinalEg360, commented in that news how the United Kingdom the regulator requires this type of entities that they do make a convenience test to customers before being able to invest in cryptoactive. In fact, it points to that if a Mica 2 appears, “include a convenience test even for the sale of crypts.” {“videoid”: “x801VDM”, “Autoplay”: fals, “title”: “bitcoin, blockchain and cryptocurrencies everything you wanted to know and never asked”, “tag”: “cryptocurrencies”, “duration”: “2797”} Caution, Bitcoin Buyer Friend in Banks. From Xataka, our recommendation is to take special precautions when investing in the cryptodivsis market: the volatility of these digital assets remains enormous, and the risk is clearly higher than with investments in traditional markets. Hopefully entities such as BBVA clearly warn of these risks in these processes. In revolut or bit2me you have to pass a small test. These two entities have long allowed cryptocurrency to operate, but as they point out in five days, both force the user for processes that help these users understand the risks. In Revolut the user must select among various options and answer some questions. According to the answers, some users can see access to more complex products restricted. In bit2me Customers must undergo an suitability test before they can start operating. Image | BBVA In Xataka | Cryptocurrencies were supposed to “become” independent “from the power of states. The US has just killed him (Function () {Window._js_modules = Window._js_modules || {}; var headelement = document.getelegsbytagname (‘head’) (0); if (_js_modules.instagram) {var instagramscript = Document.Createlement (‘script’); }}) (); – The news Operate with Bitcoin in banks like the BBVA is great except for one thing: the ball will always be on your roof It was originally posted in Xataka by Javier Pastor .

Banks spent years criticizing cryptocurrencies. The BBVA will soon allow to operate with Bitcoin and ETH from its app

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Almost exactly four years ago that the Bank of Spain (BDE) and the National Commission of Markets and Competition (CNMV) published a joint statement. In it They warned of the risk of investing in cryptocurrenciesespecially due to its “extreme volatility, complexity and lack of transparency.” Thus, they qualified them as a “high -risk commitment.” Four years later it seems that the opinion of these experts has changed. And a lot. BBVA will allow Buy and Sell Bitcoin and Eth. As the entity indicatestoday the CNMV has approved the BBVA “to provide custody and execution services of cryptoactive sale orders in Spain.” This will initially make the bank offer the possibility of operating with Bitcoin and ETH (Ethereum). The EU opens the door to the crypts in traditional banking. The notification of the CNMV is one of the procedures necessary by the regulation on cryptoactive markets (Mica for its acronym in English). This regulation was activated on December 30, and regulates this type of services in the European Union. This allows BBVA to offer those services, something that has already begun to do In 2021 in Switzerland and in 2023 in Türkiye. All from the app. As they point out in BBVA, customers in Spain can operate directly from the app that they now use to see their accounts, their investments and its traditional bank operation. Thus, they will unify both conventional and those dedicated to cryptocurrencies in the same application that was used so far, and that will have an area dedicated to these efforts. Key custody. The new service will feature an own cryptographic custody platform. In the BBVA they point out that this will allow to maintain control without depending on third parties, and thus be able to safeguard the cryptoactives of its customers. But the responsibility is from the client. In the BBVA they clarify, of course, that the bank will not advise customers, but will focus on facilitating these operations. Thus, although they will offer the ability to buy cryptoactive, they will not make recommendations to customers, thus avoiding possible responsibilities to the well -known volatility of these cryptodivises. It remains to know if the BBVA will warn customers of possible risks in investments like these. Caixabank and Bankinter do not trust. While BBVA takes that step, other entities prefer not to launch to this market. Gloria Ortiz, CEO of Bankinter, He declared recently that “it is impossible to advise anyone about something that has no value” referring to cryptocurrencies. While Gonzalo Cortázar, his Caixabank counterpart, indicated that “Bitcoin has a volatility that we all know and other cryptocurrencies, too. It is difficult to advise on the fundamentals of Bitcoin. I would not know how to do it and our teams, at this time, either.” Bankinter will not offer to operate with crypts to its customers. Caixabank yes, but not proactively. To repudiate them to hug them. In recent years we have lived a 180º turn of the position of financial institutions on cryptodivises. Many continue to show their reservations, yes. The International Payment Bank (BIS) He described This market of a “self -referential” system and highlighted how “no real economic activity” does not finance. Even so, in the US, the approval of the cryptodivisas ETFs already laid the foundations for the general public to access these assets. He strategic cryptoring project Donald Trump makes clear the position of the US government, and more and more banks want to take advantage of this new institutional perception of cryptocurrencies. Image | Bbva | André François McKenzie In Xataka | A British did not let his album search with Bitcoins in the trash for years: now he considers buying the landfill

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