Sabadell Investor Martinez Defends Decision to Back BBVA Bid

Banco Sabadell SA shareholder David Martinez, who has become a key voice advocating for the lender’s sale to BBVA SA, hit back at criticism of his decision.

His announcement “has been met with incorrect interpretations, baseless accusations and innuendo,” Martinez said in a letter sent to Bloomberg News without identifying who he was referring to. “There is absolutely no agreement or conflict of interest between BBVA and myself,” he said.