BBVA's takeover bid for Sabadell has failed, with only 25.47% of shareholders supporting the offer. This marks a significant defeat for BBVA chair Carlos Torres, who has attempted to acquire Sabadell multiple times. The bid faced political and social backlash, particularly in Catalonia, where Sabadell was founded. The Spanish government opposed the merger, citing competition concerns. Despite the failure, supporters of consolidation argue it could benefit consumers in the long run. BBVA plans to focus on its strategic objectives for 2025-2028 and announced a share buyback and interim dividend.